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Jeremy Aldermartin
Jeremy Aldermartin, Solicitor
Category: Law
Satisfied Customers: 11880
Experience:  Dual qualified Solicitor and Attorney
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If a consumer credit agreement (bank loan) was assigned to

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If a consumer credit agreement (bank loan) was assigned to another company, if it cannot be proved that a notice of assignment was served on the debtor, would this mean the assignment is unenforceable, and that any claim for monies due under the agreement would fail? Also, with regard to service of notice of assignment under section 196 of the Law of Property Act 1925, what would be classed as "sent by post in a registered letter"? Would first class post with proof of postage be sufficient?

No not at all. The debtor does not have a right to be informed before the assignment and even after the assignment the first communication of the assignment could be a demand for payment under the agreement. Registered post is "mail that is registered by the post office when sent in order to assure safe delivery" i.e. recorded or tracked delivery. I trust this assists

Customer: replied 17 days ago.
Does a deed of assignment need to be required between the original seller (the bank) to the new firm (debt sold to)?
There needs to be an assignment of the right to collect on the debt between the party that has the right to do so which if still the original creditor the bank and the new firm however that does not require a formal deed of assignment the creditor seller in this case the bank could sell the debt on to a third party who could enforce that contract and by extension the debt against the debtors I trust this assists

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