Merligen Investments Ltd are the latest company to use what we would consider to be underhand tactics to get a financial advantage over customers. There has been an increase in the number of people seeing defaults placed on their credit files by Merligen and these appear to be done so incorrectly, in an attempt to get the customer to contact them in regard to an old debt which Merligen have bought.
The debts in questions are often very old, even statue barred but all are sold to Merligen often after being written off by the original creditor. The defaults seem to appear in batches on peoples files and that would tie in nicely with Merligens advertising to buy portfolios of debt from lenders.
The debts themselves seem originate from a wide range of lenders, but most seem to be the less helpful or bottom feeders in the credit industry. Door step lenders seem to be using Merligen to sell their old noncollectable debts such as shoppercheck which is a case we are helping with. V12 finance is another lender previously known as clode finance who appear to be selling old debts to Merligen.
Our concern with these is Merligen appears to be buying the debts without checking they are even legitimate, the case we have looked at they had to ask the origional lender for proof of the debt so obviously hadn’t checked it or had any paperwork for it, so they just buy debts with no proof of existence, and then register defaults and interrupt people lives?
In the case we have they registered the default in November 2013, and backdated it to March 2013 way over the 3 to 6 Months the ICO gives as a guideline for filing defaults. Add to that the original lender never reported to any credit reference agency, no payments were made for around 3 Years, and by looking at the payment history a default would have occurred i 2006 when the alleged loan was taken out.
Above notice I said alleged loan as this is disputed by the customer, no significant proof of it’s existence has been forthcoming. All that was recived was a blank amount of loan application, an unsigned credit agreement and a sketchy looking payment history.
Our customer has issued a compliant to the ico, and stated a claim via the courts for compensation as this has caused severe problems for her, which we hope to resolve asap.
If you are having problems with Merligen investments you may also receive letters from Moriarty Law, don’t telephone them you need to first raise a dispute with the credit reference agencies to see where the origional debt has com from. The CRA’s are unlikely to help though so next you need proof the debt exists, contact us if you need any help firstname.lastname@example.org