Hi everyone,

I am pretty sure none of my creditors have ever taken court action against me, but I am still curious about sheriff court decrees and debt selling.

My question: I have several debts which are now almost 8 years old,

and know that the debts have all been sold on, probably several times.

If the original bank or credit card company had taken me to court and gained a sheriff court decree against me,

would that decree be able to be used by any debt-buying companies who later purchased the debt?

Or does each company who purchases the debt have to obtain their own sheriff court decree, in order to legally demand the money?

Thanks,

As an aside any debt over six years old or five years in Scotland is statute barred, which means no legal action can be taken to enforce the debt. Note:

1. This assumes no CCJ has been granted in which case the situation may be slightly different.

2. The time starts from the date you last acknowledged the debt or your last payment.

Thanks Jimmy, I knew that already .

Great.

I don't understand your question so I will follow your thread to see what others say as it looks like it could be interesting.

yes they can be 'given ' to other dca's as they can apply for a transfer of ownership at the issuing court.

Ok, thanks for clearing that up for me!

no problemo

How does a transfer of ownership work? Does the original creditor that obtained the decree do the transfer, I have never heard of that.

They have to apply to the court for the transfer of name, normally this gets put through with no problems

Hi Ida

Surely the DCA applying for the transfer of name would have to have had the debt assigned to them by the original creditor

the oc and dca apply to the court

Thanks for that Ida.

my debt was passed to dca and we had a decree. DCA collected full loan amount, not the decree amount?

is this right? or does the decree wipe out the original agreement?