Ex Welcome Finance/Coast now Swift Advances

[Still Waving]

It's all just one and the same charge, just now in favour of the new account owner.

If you should sell the property at some point, then Coast Finance Solutions would get what they claim is owed. Your solicitor would see to that.

[hard to guess]

It's all just one and the same charge, just now in favour of the new account owner.

If you should sell the property at some point, then Coast Finance Solutions would get what they claim is owed. Your solicitor would see to that.

Even if it is statutory barred and/or unenforceable?

[The Tech Clerk]

If CCJ noway statute barred!

[Still Waving]

If CCJ noway state barred!

I don't think the OP said there is a CCJ. As I understand it, it was a secured loan (on the property) from the outset.

[Still Waving]

In post #3 you had a letter that said that the loan had been transferred to Swift Advances plc.

It was fairly recent, but is that assignment now recorded at the Land Registry?

[Still Waving]

Proper legal advice will be needed here, as I think there are some fine distinctions which need to be clarified.

It may be that after 12 years the debt is Statute Barred, and if so no court action is permissable. However, the debt still exists and the debt purchaser is entitled to pursue the debt by any legitimate methods that do not involve court action. There is still a charge on the property which, if up to date, is in the name of Swift Advances plc. They will not need to take court action to recover the debt.

If the property were to be sold, the solicitor acting for the seller would see from the Deeds that there is a charge, and would contact the chargee (ie Swift) to confirm the amount owing, and deduct it from the proceeds of sale. No court action, merely the solicitor properly carrying out his legal responsibilities.

[The Tech Clerk]

and why they have not actioned before? comes to mind, something wrong with their paperwork?

[hard to guess]

If CCJ noway state barred!

No CCJ. There has never been a CCJ on this.

[hard to guess]

In post #3 you had a letter that said that the loan had been transferred to Swift Advances plc.

It was fairly recent, but is that assignment now recorded at the Land Registry?

Nope, they don't yet show on the land registry record. Coast is the latest entry.

[hard to guess]

and why they have not actioned before? comes to mind, something wrong with their paperwork?

Indeed. If it was enforceable and it hasn't been paid for such a long time, why would they not attempt to enforce it?

Even their letters were strange....amount due showing as ZERO?! See a snippet below..


Why would there ever be no payments due?

[Roger]

".. Nope, they don't yet show on the land registry record. Coast is the latest entry. .."
"..
Indeed. If it was enforceable and it hasn't been paid for such a long time, why would they not attempt to enforce it?

Even their letters were strange....amount due showing as ZERO?! See a snippet below..
.."
Your question about The Debit? Well the presumption is that the Debt has been frozen!

Still Waving
".. Proper legal advice will be needed here.."
".. If the property were to be sold, the solicitor acting for the seller would see from the Deeds that there is a charge, and would contact the chargee (ie Swift) to confirm the amount owing, and deduct it from the proceeds of sale. No court action, merely the solicitor properly carrying out his legal responsibilities. .."

[The Tech Clerk]

statements showing Zero is most cases means they have sold alledged debt on to another company and their records show Zero = genera; administrative book keeping (not an Asset) .

[Still Waving]

statements showing Zero is most cases means they have sold alledged debt on to another company and their records show Zero = genera; administrative book keeping (not an Asset) .

That was my thinking.

[hard to guess]

statements showing Zero is most cases means they have sold alledged debt on to another company and their records show Zero = genera; administrative book keeping (not an Asset) .

Yeah that would be my thinking, but this has been the case since 2019, monthly letter/statement showing amount due, zero.

It's all very strange.

[Still Waving]

Yeah that would be my thinking, but this has been the case since 2019, monthly letter/statement showing amount due, zero.

It's all very strange.

Very strange, but not worth spending time on, as the outstanding debt is now with Swift.