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Can a DCA get a CCJ for the whole debt


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Does anyone know if a DCA can get a CCJ for the whole debt or can they only go for the amount they paid for it? I'm not sure exactly what DCAs pay for debt, but from my experience as a Door Step Debt Collector (yes that's right) I reckon that it's about 10% or less and there seems to be a great reluctance for DCAs to go for CCJs, but I have experienced one case where Fredricksons got a CCJ of around £500 on a credit card debt of around £5k. Can anyone shed any legal light. Not too much hate mail please!

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I've got a CCJ for the full amount outstanding on a loan, through those lovely people at LCS (in-house for 1st Credit) "Can't Listen Wont Listen"

 

Before I was really aware, they hit me for the full balance plus charges, not the lesser amount they paid for the debt. I've no doubt this would also include illegal charges applied by the OC :mad:

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I'm not sure exactly what DCAs pay for debt, but from my experience as a Door Step Debt Collector (yes that's right) I reckon that it's about 10% or less and there seems to be a great reluctance for DCAs to go for CCJs

 

This site might be of some interest to you, if you're not already familiar with it...

 

InsideARM: Debt Portfolios for Sale

 

It's very US, but the principles are pretty much the same as what's going on here. You can watch the prices of various portfolios being bought and sold, and perhaps even put in a bid for the Lowell Group and close it down if you want to improve your popularity rating ;)

 

As for DCA's not going for court action, I think a lot will depend on the status of the debt. Banks and lenders are very clever at keeping themselves covered and their losses to a minimum, some of which involves tax offsets after charge off. They can still sell their portfolio of debts if anyone is crazy enough to want to buy them, but it's a real gamble for the buyer as without the necessary paperwork and if there has been a tax claim involved, Court action may not be possible, or too risky if the defendant gets a whiff of their rights and starts asking questions. Often even after a CCA request produces nothing they will still pester in the hope their victim will crack, but in many cases the risk of court action is actually very small anyway, and if you do get a CCJ, it will work in your favour as it will be for an amount you can comfortably afford.

 

It has to be underlined that each case will be different depending on the age and status of the debt, and there is no "one size fits all".

 

 

Perhaps slightly less interesting but....... WorldWide Debt Exchange

  • Haha 1

HOIST BY THEIR OWN PETARD.

 

Blimey it works....:-)

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I've got a CCJ for the full amount outstanding on a loan, through those lovely people at LCS (in-house for 1st Credit) "Can't Listen Wont Listen"

 

Before I was really aware, they hit me for the full balance plus charges, not the lesser amount they paid for the debt. I've no doubt this would also include illegal charges applied by the OC :mad:

 

Friendly Debt Collector: Yes, but it looks like your debt hadn't been sold. Just passed to another department. Or am I wrong

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