Does anyone have a notion as to what price a Collection agency pays for a bad debt. I.E. a credit card company has an amount owed of 10,000 & is being paid by the creditor at the rate (agreed with the CC company of £50 per month). Suddenly without warning a third party (the collection agency) contacts the creditor, saying that they now own the debt and no further contact (or payment) is to be made to the original cc company!. Furthermore they demand immediate payment of the full sum and will not accept any form of repayment schedule. My suspicion is that this is perfectly legal practise, but I would like to establish a ball park figure that the agency has paid the credit card company for the debt, my view is probably between 20 - 40 %, anyone have a view on this?.