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a big question
Charity_worker_2
Posts: 8 Forumite
Thanks to this website I have been able to claim back credit card charges and PPI charges. The credit card company had sold the debt to a collection agency. Now even though I have been refunded enough money to cancel the debt, the collection agency still wants money, but if I didn't owe it in the first place have they got a leg to stand on? These companies that buy debts surely need to realise that.
Can you please let me know if I am correct. I need an answer quite urgently please.
I hope I have explained myself well enough, please let me know if you need more information.
Thank you for all the help this website has given to us as a family!:)
Can you please let me know if I am correct. I need an answer quite urgently please.
I hope I have explained myself well enough, please let me know if you need more information.
Thank you for all the help this website has given to us as a family!:)
should agencies who buy debts be still entitled when a refund has been received? 1 vote
Yes
100%
1 vote
No
0%
0 votes
0
Comments
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You still have the same level of debt regardless of whom owns it.
You have now received some money from the old owner and are in the same position you would have been in had they still owned the debt.
Why should the debt collection agency write off the debt because the old owner has paid you some redress? The redress is based on putting you back in a position you would have been had the transaction(s) that you complained about not happened.
So, in your case, you should take that redress payment and pay the debt collection agency.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank you for your comments. Is this a legal thing? Can I query it with a solicitor?0
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sorry, just noticed your credentials.
My problem is that if the Credit card company admits overcharging me, then refunds me, then I didn't owe the debt in the first place!
The people who buy debts, to my knowledge buy them for a lot less than the real debt and they should have some kind of a redress.
If they lose out then - their fat look out!0 -
My problem is that if the Credit card company admits overcharging me, then refunds me, then I didn't owe the debt in the first place!
They have refunded you so you have the money in your hands. So you now pay that to the debt collection agency to clear it. So, from your point of view there is no difference.The people who buy debts, to my knowledge buy them for a lot less than the real debt and they should have some kind of a redress.
The only loser here is the original lender. Not the company that buys the debt and not you.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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