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DCA's - what do they pay for debts


100mel
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Hi Mel,

 

I watched Undercover Debt Collector on Channel 4 a few weeks back and I was shocked at how little they pay!

 

According to a debit collection expert and insider some debts are bought for as little as 10p in every pound!

 

Some of these DCA's must be making huge amounts of money. Imagine a debt of say £100 that a company buys for £10 therefore making a profit of £90!

:!: Activ Kapital 2009 - £316 debt cancelled due to no credit agreement

 

:!: TNC Legal Collections (Swinton) - £61 written off due to complaint being upheld with the FOS

 

:D Be Happy and treat people exactly how you would like to be treated

 

:mad: Don't let people take advantage of you and stand up for your rights and beliefs

 

:p You only live once so don't take things so seriously

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Hi Mel,

 

I watched Undercover Debt Collector on Channel 4 a few weeks back and I was shocked at how little they pay!

 

According to a debit collection expert and insider some debts are bought for as little as 10p in every pound!

 

Some of these DCA's must be making huge amounts of money. Imagine a debt of say £100 that a company buys for £10 therefore making a profit of £90!

 

Thats before they put their own charges on aswell!!!!!!!

Andy...

 

 

 

 

 

 

 

 

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Thats before they put their own charges on aswell!!!!!!!

 

 

Agreed, the usual ones are late payment charge, default charge, letter charge, interest charge etc etc.

:!: Activ Kapital 2009 - £316 debt cancelled due to no credit agreement

 

:!: TNC Legal Collections (Swinton) - £61 written off due to complaint being upheld with the FOS

 

:D Be Happy and treat people exactly how you would like to be treated

 

:mad: Don't let people take advantage of you and stand up for your rights and beliefs

 

:p You only live once so don't take things so seriously

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One particular Lowlife recently bought a porfolio of debt with a face value of £50 million for just under 7p in the £. :rolleyes:

 

Seriously?

:!: Activ Kapital 2009 - £316 debt cancelled due to no credit agreement

 

:!: TNC Legal Collections (Swinton) - £61 written off due to complaint being upheld with the FOS

 

:D Be Happy and treat people exactly how you would like to be treated

 

:mad: Don't let people take advantage of you and stand up for your rights and beliefs

 

:p You only live once so don't take things so seriously

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One particular Lowlife recently bought a porfolio of debt with a face value of £50 million for just under 7p in the £. :rolleyes:

 

Lets hope they only get 5p in the £1 back then. Even better if they get sweet FA

Andy...

 

 

 

 

 

 

 

 

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Yes, there was a thread on here where the paperwork was posted a few months ago.

 

Yep I read that thread also, shocking!:eek:

Who ever heard of someone getting a job at the Jobcentre? The unemployed are sent there as penance for their sins, not to help them find work!

 

 

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