Can DCA re-default a default?

[tifo]

no, a default cannot appear twice for one debt.

 

however, it can be sold and a default re-submitted by the buyer.

 

in your case, as you have settled, i would doubt a default would be entered again.

[tifo]

So in this case, if the debt is sold on 10 times, a total of 11 defaults could (theoretically) appear?

 

No ... only 1 default can show for 1 account.

 

When it is sold, the creditor has to remove their default in their name, and the new creditor will then issue their own, in their own name.

 

In this way, an account can be in default forever (theoretically) as the creditor can sell it just before the 6 years (when it falls off).

 

This is why debt agencies chase 5 year old accounts.

[tifo]

Pam, we've discussed this in detail on the other thread.

 

The way i state it is the way it seems to work, however, maybe some debt agencies use their own new date and some decide to keep the old one?

[tifo]

I am actually liable for the debt in this case and will now be settling with the DCA as soon as I can bring myself to make the call.

 

Call me cynical, bf the bank takes the default off and it is resubmitted by the DCA (as described), then I would imagine a "I'll pay it off in full" offer to the DCA would be more likely to be successful in getting the default removed than with the bank themselves?

 

Why are you going to pay it off if the debt was assigned as it should have been by law?

 

I doubt they would take the default off, but would show it as settled.

[tifo]

The default already shows as Satisfied (is that the same as Settled?) as the DCA paid the Bank, therefore the bank marked it Satisfied.

 

No, the bank marked it satisfied because they sold it at a discount to the DCA. The DCA did not pay your debt, they bought it for, maybe, £3 per £100 of debt. Then they try and get the whole amount from you. The bank just writes off the difference in their tax.

 

The DCA can then issue their own default for the debt, but the bank would have to remove their own.

[tifo]

Hi Pam ...

 

nice to see you again ...

 

this issue follows us everyhere ....

[tifo]

this seems like a ridiculous [problem] by the DCA's which could be never ending as they shuffle the papers from one arm of their organisiation to another.

 

Exactly right .....

 

and the banks also collude ... after 5.5 years they sell the debt on ... thereby starting another 6 year cycle ...

[tifo]

Regarding the default issue, this is the big debate at the moment but I would not accept 2 different dates/entries on my file for the same debt and would challenge it vigorously!!

 

Have pity for me then!

 

Lowell Group - 1 account, 4 defaults from 2 companies (2 each) and wrong dates and info. I'd love to see them in court soon ....

[tifo]

That certainly gives tifo some evidence to support his or her current predicament.

 

DEFINITELY a HE ....

[tifo]

Hi Tifo,

 

I guessed you were a 'he' but it's not always obvious from some of the posts as to what a person's gender is. Sad little old me has been trying to look for clues.

 

No problems Pam. You should've just asked!