The following is general information on Idem Capital Securities Limited, one of the debt purchasers we frequently find ourselves fighting in court. We do not act for this company, we act for clients being sued by them.
Idem Capital Securities Limited
Idem Capital Securities Limited is an investment division of Paragon Bank PLC and is a major purchaser of loan portfolios in the UK. Idem Servicing is a trading style of Paragon Bank PLC and are the debt collection arm for loan and credit accounts purchased or acquired by Idem Capital. Both companies are based at the same address in Solihull, West Midlands and employ approximately 450 staff.
Like most debt purchasers, Idem Capital claim to help you to manage your debt through affordable repayments, and to support you through the process.
In common with most debt purchasers, their real aim is to maximise their investment in the debts they purchase. To this end, they will sometimes accept repayment plans, but may require proof of your income and expenditure before agreeing terms. Be aware, however, that these plans are usually informal and can often be reviewed or revised, usually every 6 months. A repayment plan does not stop Idem Capital from issuing a claim.
If you have received a letter of claim or a County Court Claim from Idem Capital or they have obtained a default judgment against you, we can advise you how to proceed, or we can act for you. These claims can be defended. Our view is that these companies once they issue county court proceedings must show us and the courts that they have complied with the statutory requirements of the Consumer Credit Act 1974, the Financial Services and Markets Act 2000 (FSMA) and the Law of Property Act 1925. If they have not, then they are not legally entitled to enforce these debts. We defend all cases vigorously with a near 100% success rate.
This is an example of one of the many claims we have successfully defended against Idem Capital:
Idem Capital Securities Limited v W…..(2019) (before CJ at Chester County Court)– Instructed to appeal decision below – Claimant not authorised by Financial Conduct Authority to exercise the rights of a lender and bring proceedings in county court – appeal granted, and claim dismissed as unenforceable pursuant to S. 26A (4) of the Financial Services and Markets Act 2000 (as amended)
Please note that County Court decisions are not binding on other judges. Each case has to be argued and defended on it’s merits.
Contact us at firstname.lastname@example.org or telephone 0151 254 6980.