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Campaigners in USA buy individuals' debts for pennies and write them off

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  • #31
    Re: Campaigners in USA buy individuals' debts for pennies and write them off

    Originally posted by SXGuy View Post
    Just out of interest, why cant we do it? what are the rules regarding obtaining a CCL? surely someone can meet the requirements?
    Would you even need a CCL ?
    It isn't debt collection or any other ancillary service mentioned in the act, I don't think.

    I suppose you may need ICO licensing ?

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    • #32
      Re: Campaigners in USA buy individuals' debts for pennies and write them off

      Originally posted by SXGuy View Post
      Just out of interest, why cant we do it? what are the rules regarding obtaining a CCL? surely someone can meet the requirements?
      Am sure there is a regulation somewhere, otherwise someone would have already done it ? I suppose you could draft up a letter head and use a false address and write to a DCA and ask for any accounts they are wanting rid of...see if yours is there and make an offer....then you could cut out the middle man...can't be that easy I'm sure.

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      • #33
        Re: Campaigners in USA buy individuals' debts for pennies and write them off

        Maybe ok if you fancy a holiday at her majesty's expense. Think I will give it a miss ta

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        • #34
          Re: Campaigners in USA buy individuals' debts for pennies and write them off

          Originally posted by cardiac arrest View Post
          Am sure there is a regulation somewhere, otherwise someone would have already done it ? I suppose you could draft up a letter head and use a false address and write to a DCA and ask for any accounts they are wanting rid of...see if yours is there and make an offer....then you could cut out the middle man...can't be that easy I'm sure.
          Well, lets not forget that those companies are in it to make a profit, thats why its not been done before. Were obviously talking about buying debts for peanuts and clearing them with low settlements, which wouldnt usually be the remit of any business.
          I'm an official AAD Moderator and also a volunteer, here to help make the forum run smoothly. Any views or opinions are mine and not the official line of AAD. Similarly, any advice I have offered you is done so on an informal basis, without prejudice or liability. If in doubt seek advice from a qualified insured professional - Find a Solicitor or go to the National Probono Centre.

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          • #35
            Re: Campaigners in USA buy individuals' debts for pennies and write them off

            Why cant we do this....?

            I would love to have a go.

            Approach the people who are on the list to be purchased and offer them settlement for a small profit.

            Everyone would be happy then, and if done as a sideline to AAD this would / could create a fighting fund to help others?

            Matty

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            • #36
              Re: Campaigners in USA buy individuals' debts for pennies and write them off

              I'm friends with a guy on FB who does this. I might have posted earlier when I had a pop at him

              However it's not likely to happen. Once you write the debts off the banks wouldn't sell to you. Why would they when they know you're just binning debt? It wouldn't and can't work. Oy way would be for a dragons den to fund it like a captain cash thing
              I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

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              • #37
                Re: Campaigners in USA buy individuals' debts for pennies and write them off

                In fact you've probably got a million in ppi refunds so are you offering mate
                I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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                • #38
                  Re: Campaigners in USA buy individuals' debts for pennies and write them off

                  You (not personally Nid) could set up companies with nominee directors or different directors (from here) each time?

                  Then close them after a while or a block of purchases had been made?

                  A new company for each bank?

                  Would love a go at this.

                  Matty

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                  • #39
                    Re: Campaigners in USA buy individuals' debts for pennies and write them off

                    Get to FB and hook up with me and I'll refer you to Gary who has considered doing this. Good plan but I put him off a bit when I explained the pitfalls but worth a chat....
                    I'm the forum administrator and I look after the theme & features, our volunteers & users and also look after any complaints or Data Protection queries that pass through the forum or main website. I am extremely busy so if you do contact me or need a reply to a forum post then use the email or PM features offered because I do miss things and get tied up for days at a time!

                    If you spot any spammers, AE's, abusive or libellous posts or anything else that just doesn't feel right then please report them to me as soon as you spot them at: webmaster@all-about-debt.co.uk

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                    • #40
                      Re: Campaigners in USA buy individuals' debts for pennies and write them off

                      Oki Doki

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                      • #41
                        Re: Campaigners in USA buy individuals' debts for pennies and write them off

                        How do I hook up via FB - new to all that.

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