Debt and Deed of Assignment #stom

Debt and a Deed of AssignmentSelling of Debt

My understanding is that if a creditor sells a debt there has to be a Deed of Assignment to prove that the debt has actually been sold on to another company. I also believe that a deed of assignment requires four (4) wet signatures to be Companies Act 2006 compliant.

So it would appear that the Deed of Assignment is an integral part of the process of a creditor selling the debt onto a debt purchasing company.

SAR’s Request for Deed of Assignment

I find it very strange that if someone writes to a creditor with regards to a debt that has been sold on, and requests to see a copy of the Deed of Assignment. The major creditors never seem to pass on this information.

In general if you apply to a creditor for all information held regarding a certain account, you can be sure that you will receive a large packet of documents in the post. I am sure that the main reason for the large amount of documentation (i.e. every single statement since day one of the account), is to try and overwhelm you with information. You can also be very sure that the Deed of Assignment will not be amongst the mountain of documents that you receive!

Deed of Assignment and the Courts

So the Deed of Assignment is a very important document, and without it a creditor can not legally take court action against you. Well so you would think! I often hear of cases where the defendant has requested a copy of the Deed of Assignment from the creditor, prior to going to court. Then when the case is heard by the Judge, the defendant will say that they did request Deed of Assignment from the creditor, but none has been produced to date! However, it would seem that the absence of such an important document has no bearing on the case. It is just dismissed and the Judge rules in favour of the creditor.

It makes me wonder how many individuals have lost their case because the absence of a very important document in not available? Is it because the Deed of Assignment does not exist, or are they keeping it from public view.

Also why does a Judge not care whether or not the document exists??? Where is the Justice??

Here is a rare example of a Deed of Assignment; click on images to enlarge:

Debt and a Deed of Assignment

Debt and a Deed of Assignment

Further Reading Companies Act 2006

#STOM Stop Thieving Our Money


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Debt and Deed of Assignment #stom — 4 Comments

  1. Pingback: Deed Assignment Debt Collection | consolidation - credit card debt

  2. I am currently making a stand on this point. I have asked to see deed of assignment but it is not forthcoming. This is re. Mortgage sold to another mortgage company. I feel that the judges are all aware of the fraud that is going on with the deed of assignment not being available and if it is, it’s not in legal/lawful correct format. Judges do not want to take the blame for creating an influx of new claims or setting a precident etc so they just throw it out. By doing this, they become part of the fraud. What can we do with this corrupt system? I am aware of the Lord denning case where he said we were entitled to see it but other judges appear to ignore his decision?

  3. My case is the same and judge has ordered producement of doa and has adjourned case for 4 weeks. So I will have to wait to find out what happens?

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