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Debt collection agencies / f.o.i act

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APEX/Pinnacle have bought my debt from CB, are persuing it vigorously. I have requested CCA but i DO know that they have a valid one. I asked them previously if they are obligated under the FOI Act to disclose the sum they purchased this debt frmo CB and they said they did not have to. I would have thought that they would have to disclose this figure. Does anyone know if they have to disclose or not? Thanks people!

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The FOI Act applies to public bodies - councils, police, NHS - not private companies which DCAs like Apex are. What you can ask for is a Subject Access Request and under that a copy of the sales document. However, you will find that, even if it includes the price per £, it will have been redacted (i.e. erased). I have requested this info before judge in the past and the DCA said it was sensitive business info and they didn't have to reveal it and the Judge (who was quite hostile to them in other ways) supported this.

 

However, it is fair to say that debt purchasers pay 10pence in the £ for portfolios of debt. I have heard this price has slumped over the past 18 months and now it's 5pence in the £ but also that some banks and credit card companies are not releasing debts at the moment so it's difficult to know what the actual figure is but even on 10pence in the £ you don't need to be Einstein to know that if they collect the lot they make a fat profit.

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No they don't have to. Only in court if a judge requires them to do so, which would mean you would have to wait for court action.

 

The FOI only applies to public bodies, e.g government and Quango's.


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