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For a credit card debt to be sold on does it


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have to be first defaulted, then terminated and then and only then can it be sold?

 

I have a default letter, it roughly corresponds to the date of the default added to my credit file (but was added by the DCA not the original creditor)

but no termination letter. What I have after the default notice is a few months down the line a letter from the DCA stating that they own the account and to pay them?

 

Would therefore the account have to have been terminated for the DCA to then take up the reigns?

 

Also, is there a particular format the DCA must write to me in when stating that they've purchased the debt?

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Hi

 

A little clarification for you.

 

When you see a DCA's name next to a default on your credit file, their name will have replaced the original defaulter, the original creditor.

 

There is no prescribed format to an assignment letter but according to the Law of Property Act, assignments should be sent by registered post (Recorded Delivery in modern times) and I bet they never did that

 

The best thing you could do is to SAR the original creditor and check your account history when it comes back to see what has been done to your account.

 

In answer to your first question, yes.

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Thank you for clearing up some of that. It has been over 6 years since hearing from the original creditor, I have assumed (rightly or wrongly) that since the DCA wrote stating that they owned the debt that they indeed owned the debt but after sending them a subject access request I can see nothing within it that shows where if any there is communication from the original creditor and there is nothing by way of a credit agreement from the original creditor. At the very least I would have expected sight of the original credit agreement.

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sometimes, when you send a SAR they will state that copy agreements are not covered by the DPA1998.

Your option in that case is to send a CCA request to them.

 

There is an issue with banks in that they are obliged to keep account information for 6 years after an acount is closed so whether they will have all the info you require is uncertain

If you are asked to deal with any matter via private message, PLEASE report it.

Everything I say is opinion only. If you are unsure on any comment made, you should see a qualified solicitor

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When did you last make a payment or acknowledge the debt in writing, if it was over 6 years as you stated then it is Statued Barred.

I have no legal training, any knowledge I have has come from this forum, and my own experiences. Always balance up any advice you get with your own common sense.

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