Things about to get very serious and much more real? / Felicitas Letters

[GregRickshaw]

My concern would be that the actual matter that a court would care about may literally be just the bit in Bold below

your work > xyz > trust > your bank account

which would be about the hardest thing to argue against...

Totally agree with eek and every insight and logic they come up with.

As far as I know any individuals with lawyers probing this have not received confirmation.

Very worrying times.

[eek]

Totally agree with eek and every insight and logic they come up with.

The huge IF on all of this, for me is have they ever proved they own the loans?

And that if is the issue because if Felicitas actually own and manage the loans but want to collect maximum money the easiest way of doing that would be to do exactly what they have done...

[GregRickshaw]

And that if is the issue because if Felicitas actually own and manage the loans but want to collect maximum money the easiest way of doing that would be to do exactly what they have done...

Really? Oh that sort of surprises me surely if they owned the loans then it's a lot easier than this to get the money.

As someone who has been through debt disputes and ultimately debt collections there isn't really the ability to horse trade the way we have with these guys. The loan one took out tends to have to be paid back, somewhat watered down in some cases as it moves further down the chains away from the original lender, but never 5% or 2% or even 1% as has been quoted.

Very surprised to hear that opinion.

[MrO666]

And that if is the issue because if Felicitas actually own and manage the loans but want to collect maximum money the easiest way of doing that would be to do exactly what they have done...

If they do legally own these alleged loans, why are they not being so open about proving that, as surely that's a big stick in their arsenal ?

I agree with previous comments, without them proving they genuinely and legally own the "loan book", then where is any confidence that IF someone was to settle, then that would genuinely be the end of it.

Surely if this did go to court, the fact that you could prove you'd repeatedly asked for proof of ownership which was never forthcoming would, one would assume, carry at least some weight.....but who knows.

[eek]

If they do legally own these alleged loans, why are they not being so open about proving that, as surely that's a big stick in their arsenal ?

I agree with previous comments, without them proving they genuinely and legally own the "loan book", then where is any confidence that IF someone was to settle, then that would genuinely be the end of it.

Surely if this did go to court, the fact that you could prove you'd repeatedly asked for proof of ownership which was never forthcoming would, one would assume, carry at least some weight.....but who knows.

I wonder if the wrong question is being asked and if the question isn't "Do you own these loans" but really should be "are you the manager / agent for the owner of these loans".

Equally I wonder if it is possible that they didn't originally own the loans but having now collected some money they are now in a position to actually purchase them...

[MrO666]

I wonder if the wrong question is being asked and if the question isn't "Do you own these loans" but really should be "are you the manager / agent for the owner of these loans".

Either way, it's not unreasonable for someone to want proof of ownership of at least the right to collect on it before coughing up is it.

[eek]

Either way, it's not unreasonable for someone to want proof of ownership of at least the right to collect on it before coughing up is it.

Oh I know that, but perhaps Felicitas didn't actually want that many people paying up early on - they just wanted a papertrail that made them look nice when they finally do go to court (with their newly acquired proof)

Having seen the tricks that occurred and were discovered back in August I'm incredibly cynical about the true motives of these people

[GregRickshaw]

I wonder if the wrong question is being asked and if the question isn't "Do you own these loans" but really should be "are you the manager / agent for the owner of these loans".

Equally I wonder if it is possible that they didn't originally own the loans but having now collected some money they are now in a position to actually purchase them...

Mmm good points which goes back to what I was saying. Company A lends pleb A money. pleb A defaults, Company A can't be arsed, sends it to Company B to v chase pleb A.. Company B gives up and it goes to Company C etc.,

I see what you are saying now, someone owns these loans....

Very moot points eek. Thanks again

[MrO666]

Oh I know that, but perhaps you don't actually want that many people paying up - you just want a papertrail that makes you look nice when you finally do go to court.

Having seen the tricks that occurred and were discovered back in August I'm incredibly cynical about the true motives of these people

I agree 100%..........their motives are clearly not nice, it just depends how far they're willing to push it I guess.

[rootsnall]

Having seen the tricks that occurred and were discovered back in August I'm incredibly cynical about the true motives of these people

What other motivate can they have but to extract as much money as they can from it ?