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Ash
Ash, Solicitor
Category: Law
Satisfied Customers: 10916
Experience:  Solicitor with 5+ years experience
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A company,Highbridge,took over my credit card debts fee

Customer Question

A company,Highbridge,took over my credit card debts for a fee of several thousand pounds.In one case,re debt with Lloyds TSB,Highbridge confirmed to me on 30 May 2012,they now had legal ownership of this debt,and guaranteed I would never have to make another payment to either Highbridge or Lloyds TSB.
Last month,Highbridge wrote to say in some situations their 'system' may not work,and they were closing down this operation - no mention of the fees they took,and no way to communicate with them- the closure had happened by the time I received their letter!
Lloyds have now written to me to say they are passing this debt to debt collectors,as 'the law does not allow the sale of a debt without the lender's permission and Lloyds TSB has not sold your account'.
My understanding is that Oliver Mishcon,a barrister,was,amongst others,a director of Highbridge,and I find it hard to believe could have taken fees to take over my debt if Lloyds TSB's statement re the sale of debt,is true.
Submitted: 2 years ago.
Category: Law
Expert:  Ash replied 2 years ago.
Hello my name is ***** ***** will help you with this.
How much have you paid in fees please?
Customer: replied 2 years ago.

I have paid £38 twice - I thought i was dealing with Jo,and am waiting for her answer - this is an awful way to communicate

Expert:  Ash replied 2 years ago.
It looks like you posted a new question. I can help you quickly?
I meant how much did you pay a fee to the debt company?
Customer: replied 2 years ago.
I have replied to this question-where is my answer? I find this layout most aggravating
Expert:  Ash replied 2 years ago.
Might I ask you to repost the reply?
Customer: replied 2 years ago.

I paid £3656 to one ***** *****,an agent of Northstar Capital Consultancy,who themselves charged £7313 - I do not know what proportion of that went to Highbridge.

Expert:  Ash replied 2 years ago.
You need to write and set out your losses and request a refund within 14 days or say you will go to Court within 14 days. You should make sure you send this signed delivery and keep a copy.
If they do not refund you then you can issue proceedings in the County Court. You can either do this online at: www.moneyclaim.gov.uk or by completing form N1 http://hmctsformfinder.justice.gov.uk/courtfinder/forms/n001-eng.pdf and take it to your local County Court.
The Court will then issue a claim which a copy will be sent to the Defendant who will have a limited time to defend it, if not you can enter Judgment and enforce.
If the claim is for £10,000 or less it will be a small claim so you will not need legal representation. Over this value you would need representation for trial.
You can get Stepchange to do it for free. http://www.stepchange.org/
They are a Charity and offer debt management at no cost.
Can I clarify anything for you about this today please?
Customer: replied 2 years ago.

You do not say where I stand with regard to Highbridge confirming to me they are responsible for the Lloyds TSB debt,and LLoyds' statement re the sale of a debt,which is what I really want to know.

Expert:  Ash replied 2 years ago.
Only if there has been a properly executed agreement and there has been a formal notice of assignment can be debt be properly transferred.
Without then then it is not.
Does that clarify?
Alex
Customer: replied 2 years ago.

then,in effect,you are saying Highbridge acted unlawfully?

Expert:  Ash replied 2 years ago.
Not illegal, but they did not have a contract,
Does that clarify?
Alex
Ash and other Law Specialists are ready to help you
Customer: replied 2 years ago.

Final question - Since 2012,Lloyds did deal with Highbridge,who were,I believe,paying £1 per month off this debt - surely,Lloyds can't have it both ways,i.e. claiming the debt could not be taken over by Highbridge,yet dealing with them and accepting money from them - how would that be viewd by a court?

Expert:  Ash replied 2 years ago.
I agree. Its only one person that can own the debt and it should be properly assigned.
ALex
Expert:  Ash replied 2 years ago.
Hi

I am just following up to see if there is anything else I can help with?

If this answers your question might I ask you to rate my answer before you go today please, the button should be at the bottom of the screen.

If you need more help please click reply.

Alex