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Debt Acquisition
HD840
Posts: 33 Forumite
in Credit cards
When a company purchases a debt from a credit card company when account is in default....does anyone know how much they tend to change hands for.
I assume it is a percentage of the current balance, but if so what %.
I assume it is a percentage of the current balance, but if so what %.
0
Comments
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How long is a piece of string?
Depends entirely on both the creditor's and buyer's assessment of the likelihood of recovery. Plus apparently many debts a bundled up together and sold as 'bulk' lots, meaning that price reflects the 'whole' bundle.
If the debt is sold on multiple times then obviously that % will be reduced in subsequent sales.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0
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