Debt passed to other dca!help

andy69_2

Hi I took a provident loan out 2 years ago. After coming back from Afghanistan plus 6 months for forgetting about the loan I rang them up and found out the loan had been passed to a dca. I rang them and they said it had been passed to another dca called Network. She said they haven't received anything yet but when they do they will write me a letter and then I am to ring them up and come to an agreement. Because it has been passed to another dca does this mean I will have a CCJ or a default or anything, I don't know anything about debts and how they work. I have just been accepted for a mortgage and thats all gone through and that was literally 1 month ago with the abbey national. What does it all mean and how much am i looking at paying now from a loan which i had about 100 left to pay on.

THANKS!!

thefoolonthehill

hi i wouldnt worry about it too much right now.

I doubt you will have a ccj as they would have advised you of this when they took you to court. I also doubt they would take you to court for 100 pounds.

The DCA will be in touch as and when and will probably offor you a deal to close the acct, i am guessing but would reckon if you give them 50 pounds they will close the file and say thank you andy69.

if it was going to effect your mortgage app it would have done so before you got accepted not a month after

andy69_2

Thanks for that, i know its only 100 pound but I always thought if its gone to a debt company for like a year then transferred to another then will their not be loads of charges mounting up to like 400 quid at least? I just don't want to get a default on my credit report etc.

Declan__Debt_Advisor

Hi Andy
It may be worth checking your credit file to see if anything has been reported (defaults etc) however if your mortgage has just been approved it is unlikely a default has been registered. The best thing to do is to call the dca and offer a full and final settlement of the debt.
Thanks

thefoolonthehill

cant really tell you about charges and defaults unfortunately. DCA's are a law unto themselves and as such sometimes charge what they want. As I said before tho I would think they would be happy to settle.

Have you checked your credit report to see if you have any defaults?

andy69_2

Well the last time i checked was experian free 30 day trial, about 14 days ago, nothing was on their but something may be their now i don't know? I just hope my mortgage does'nt get effected now, it has been accepted and all that, just got to sign for it etc.. they won't credit check me again before I actually sign will they? Its already been with underwritters and all that etc.... Thanks

Declan__Debt_Advisor

I shouldnt think so Andy. I still recommend contacting the DCA and getting that sorted first. Utimatley, it will be a relief not having to worry about it.
Thanks

andy69_2

Yes thanks! I know its not much debt compared to some people but I don't like owing ppl money especially as charges can be added on and so on... I just hope that the 100 debt has not turned into something stupid like 800. What do I do then? Thanks

Declan__Debt_Advisor

dca's tend to have a reputation for adding charges but it is likely they will just want the debt setled. Bear in mind they purchase the debt for a percentage of the balace owed not what is outstanding.