Buying debt?

by Everforwards Fri Feb 12, 2021 9:41 am

There is something that's bothering me, if Baliff's as a 3rd party private company can buy people's debt and then chase them for it. How do they actually buy your debt? Is there an ebay for debt? Can I buy debt? Can only corporate entities buy debt?
Thanks

by waylander62 Fri Feb 12, 2021 10:01 am

Bailiffs don't buy other peoples debt for one thing

and anyone can buy debt, but in terms of the debt you are referring to then they need FCA authorisation to be able to collect on the debt they have bought.

it is a HUGE market.

by **Mrblue2015** Fri Feb 12, 2021 10:08 am

Thanks for your question Everforwards and the answer Waylander62. Yes a huge market (full of aholes...)

by **daveiron** Fri Feb 12, 2021 10:11 am

After the bank fails to collect alleged debts ,they are bundled together in what
is known as a SPV (special purpose vehicle) these could have a face value of
hundreds of thousands of pounds or in the case of mortgages possibly millions.
They are sold off for a small persentage of their face value to debt purchasers.
For example if they paid 10% of the face value ,they only need to scare 10%
of debtors into paying and break even. Whatever they collect from the other
90% is all profit after expences.
These people are nothing more than scum who exist on the misery of others.

by **Mrblue2015** Fri Feb 12, 2021 10:39 am

Excellent info DaveIron, thank you.

by Everforwards Fri Feb 12, 2021 10:52 am

Yeah cheers DaveIron. Have any of you heard of Mary Elizabeth Croft? She wrote the book 'How I Clobbered Every Bureaucratic Cash-Confiscatory Agency Known To Man'.
From what I comprehend she was one of the original pioneers of this revolution of the words by we the people.

by **urchinatheart** Mon Feb 22, 2021 4:59 pm

Hi Everforwards ,Mary's book is great, and inspired some helpful activity. It showed that debt is fiction. Every debt that is created has a credit hidden on the other side of the ledger books. Banks have to show a zero balance at close of business every day. They just show one side of the book when they send you a "statement" (confession?).
www.universallawcommunitytrust.com has a "We Buy Any Debt" section to explain this further. Trust yourself, take a look.
I think this is for public, not private debts as you would not wish to cause a brother or sister a liability, would you ?

by **LionsShare** Mon Feb 22, 2021 6:17 pm

I would say definatly Public

by **LionsShare** Mon Feb 22, 2021 6:44 pm

Looks like a charity possibly registered? at the post office on Holme St. Halifax

by Sharpysparky Mon Feb 22, 2021 7:25 pm

I rang the number and a few hours later I got a call back from Em Oven herself!!!!( think thats how its spelt) I recognised her voice instantly as I had watched her video that you posted the night before! I have yet to take the plunge as there are a few bits of the signing up is confusing, she said that the site was hacked but the email add you HAVE to sign up with is in Switzerland and supposed to super safe so it just made me think before the leap

SS

by **urchinatheart** Mon Feb 22, 2021 7:44 pm

You are right to think. Don't blame you. Once you are in there's a safer way to communicate, but getting the first contact proton is ok because all is lawful. Everything done is ok because its done by their laws. We are just ignorant of those laws. Yes, minister Emoven is willing to help us learn.
Read it all again and think and feel inside if is right for you.
It took me over a year to get up courage to call, so you are braver than me !!

by **assassin** Wed Feb 24, 2021 1:20 am

waylander62 wrote:Bailiffs don't buy other peoples debt for one thing

and anyone can buy debt, but in terms of the debt you are referring to then they need FCA authorisation to be able to collect on the debt they have bought.

it is a HUGE market.

You are talking about in the "legal" but put this into Commercial Law and you can buy a block of debt which contains your alleged debt.

You remove your debt and sell the rest on, possibly for profit, while removing your alleged debt and you use a counter Affidavit and counterclaim against them, you win as they know you are acting as "the party" under Commercial Law and under this law you dont need any registering, especially with the FCA or indeed any other body, they have to provide complete evidence which we know they cannot and they have to rebut your claim point by point which again they cant, instant win for you.

How many DCA's are going to go to the expense of taking such matters to the High Court Equity division, as this is the only court apart from the Supreme Court which can hear such cases when there only operational motive is money and especially easy money. They would be forced to do this or walk away, if they walk away they have left the battlefield and you have a default win and they will be forced to pay your lien when you present it, lose; they open peoples minds and everyone does it, do you think they would take that risk?

by **daveiron** Mon Mar 08, 2021 8:04 am

Sharpysparky wrote:I rang the number and a few hours later I got a call back from Em Oven herself!!!!( think thats how its spelt) I recognised her voice instantly as I had watched her video that you posted the night before! I have yet to take the plunge as there are a few bits of the signing up is confusing, she said that the site was hacked but the email add you HAVE to sign up with is in Switzerland and supposed to super safe so it just made me think before the leap

SS

Hi SS, Its a Proton email account ,I have one myself ,its all encripted

by **urchinatheart** Thu Mar 11, 2021 9:25 pm

Hi SS,
Try again. Go to website and click Kindness Credit button at top left and download form.fill it in with your liablities, name, address etc. Attach it to your Proton email, then someone will get back to you, maybe it will take a few days if they are dealing with a lot of assignments, but it should be ok.
best wishes

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