Question about debt collection agencies

Dirk Diggler · 5th February 2007, 12:02

my debt was bought by Lowell from capital one and they have now informed me they are no longer pursuing it. will they give it back to the company they bought it from or once it is bought it is their debt to collect.

hope someone can help

thanxs

whats a mook? · 5th February 2007, 12:07

Hello mate, it may help if you add a few more details about the case. You may be more likely to receive input. Good luck.

Dirk Diggler · 5th February 2007, 15:05

sorry if anyone has read this about hundred times as iv posted a few times about this.

basically started having letters from lowells back in oct for a debt from cap 1 that accumulated over 5 yaers from credit card protection. as far as i was concerned i closed the credit card down, and didnt even know i had credit card protection, anyway by liasing with cap 1 to get info which is falling on deaf ears but my fault as i didnt know about s.a.r at the time. but since then lowell have told me they are not pursing any further and have withdrawn???? whatever that means. i was just wondering when they buy a debt from a company if they stop pursuing to they give it back to the company theyv bought it from - in other words am i going to have another letter 6 months down the line or should i still pursue to clear my name.

i hope this makes sense

tifo · 5th February 2007, 16:11

i doubt it.

this is the risk they take when they buy a debt at such a low price.

i don't think banks sell debts on a 'collect or return' basis.

Duffers Mum · 5th February 2007, 16:19

My hubby had a similar letter from a debt collection agency last year saying they had referred it back to 1st credit, we now have Mackenzie Hall chasing us, but we are ignoring them for the time being as my hubby himself has not had any dealings with any of the companies for years, but I have, even though the debt isn't mine, we are still waiting to see if that makes it statute barred because it was only me making payments from my bank account and, in theory, nothing to do with him! Just be aware that although they are not chasing anymore, they might have passed it onto another one of the vultures!

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