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Buying a debt....


jiggy harris
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HI, a question..

 

 

.if a debt collection agency buys a debt of another company,

 

 

can they legally pursue you for a debt that you havent actually got a contract with them.

 

 

..if your debt is with company A and company B buys your debt

 

 

then surely your contract is with company A still regardless of who buys it....

 

 

..im not talking about dca that have a vested interest with a company that they collect money on behalf of,

 

 

im talking about a dca that buys a debt of a finance company..

 

 

...thanks in advance..

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Check the t+cs of the original agreement.

 

Normally contains a clause "We may transfer our rights and obligations to any third party....."

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The SabreSheep, All information is offered on good faith and based on mine and others experiences. I am not a qualified legal professional and you should always seek legal advice if you are unsure of your position.

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As above, it will say in the T&C's somewhere.

 

However, if a company buys your debt, you could send them this:

 

 

Dear PERSONS,

 

I would like to take this opportunity to thank you for interesting yourselves in my financial affairs.

 

It has been brought to my attention that you paid an outstanding debt on my behalf to ( bank name)

I cannot thank you enough for doing this as I was unable to do so myself. You have restored my faith in the goodwill of others and you sir are truly a goodSamaritan.

 

If I may be so bold as to mention, I do have some other outstanding financial matters that you may wish to take a look at and having spoken to some friends and family they too would like you to look into their financial affairs.

 

I believe that the sum (bank name) accepted from you as payment of the debt was around £20.00, well done to you sir for managing to reach such an amazing dealwith the bank. I had tried in vain to get them to accept that amount from mebut to no avail, you sir have clearly mastered the art of negotiation.

 

I have already written to the queen asking that you be considered for an award for services of charity to the people, I do hope it is acted upon.

 

Yours most thankfully,

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HI, a question...if a debt collection agency buys a debt of another company, can they legally pursue you for a debt that you havent actually got a contract with them...if your debt is with company A and company B buys your debt then surely your contract is with company A still regardless of who buys it......im not talking about dca that have a vested interest with a company that they collect money on behalf of, im talking about a dca that buys a debt of a finance company.....thanks in advance..

 

Lets not fall into FOTL discussion. That argument is wholly wrong. Under the law, a debt can be sold and all rights and obligations with it.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

If my advice helps you, click the star icon at the bottom of my post and feel free to say thanks

:D

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tell us about the debt please

is this on your Credit file too?

 

 

time to ignore the silly FoTL twaddle too.

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Lets not fall into FOTL discussion. That argument is wholly wrong. Under the law, a debt can be sold and all rights and obligations with it.

 

 

Agreed, FOTL twaddle, take no notice, especially as that's not how it works.

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