Hi, I have a loan with a UK company, I had a repayment holiday and I am due to make payment. The original UK creditor is not managing the loan anymore as I think they have gone bust? I have recieved letters and phone calls from a canadian registered company and they are calling from Canada and they say they administering the debt. I have asked the a copy of my credit agreement and they have sent the original which i signed, but nothing official to say they are dealing with the debt. What else do i need to ask for from them? Can they call and chase this debt from Canada? Should I just pay them every month and not question this? Thanks Mikey

Hi, Just want to say I am new to this forum and thanks in advance for any advice that can be provided. I feel a bit lost... Basically in August 2007 I took out an unsecured loan for my MSc degree with a company called Sallie Mae UK which was for my studies, It was for £11,000. I had a repayment holiday for the duration of my studies (around 17 months) - where interest was accumulating, the rate of interest was around 12%. Ridiculous I know (I was young and didnt understand the implications). Anyway Sallie Mae stopped this unsecured loan scheme in April 2008 as I think it didnt work out/credit crunch reasons? I have been informed that Sallie Mae UK are not dealing with this anymore even though they are the creditor. I have received several letters to let me know that they have passed this debt on to a company called Total Credit Financial Services UK/Eagle Consulting (which i have found out is a company that deal with outsourced debts). They are located in Canada and they are chasing the debt from there. Is this legal? Can they chase the debt from Canada? I am unable to locate my agreement with them so I have used letter N provided on this site to request a copy of my credit agreement. They do hold this credit agreement which is signed, the original agreement being with Sallie Mae, they have not provided any notice of assignment to this new Total Credit Company. My first question is that when I look on experian It appears that Sallie Mae have not searched my credit report before providing me with this loan? Is there a reason for this, or is this information I cannot see? Can companies give loans without doing searches? My second question - is there any case for this debt being unenforcable? It was taken out after April 2007, they have provided me with the original agreement but not an assignment for this new company to deal with. As the company chasing are from canada and the orginal creditor Sallie Mae UK do not exist and not offering this scheme anymore. Is this original agreement enough to be enforcable? What else do I need to do now? Third question - If i start making repayments how will this affect my credit rating? I genrally have never missed a payment on any credit card or loan but I am looking to buy a house soon, will this loan affect my ability to get a mortgage? I would appreciate any help in relation to the above 3 questions, the second one being most impotant to me. If you have any questions feel free to message and I can provide more details. Mike