selling me debt of

13ghosts

i had a loan with yourkshire bank .other half lost his job and we came to a agrement to pay some thing each week..all was fine till they sold the debt to marlines .i called them i did not agree to sell my debt.. can they do this..and do i have to axcept marlins to take it over

CHR15

Entirely up to them what they do with your debt.

If they can't be bothered chasing a non payer, they will sell it on to a company who are happy to send hundreds of letters and make hundreds of hounding phonecalls.

13ghosts

did not have the loan on the house..can they put the loan against the house and claim at a latter date when i sell it

CHR15

They can apply to put a charge on the house yes. Not a simple thing to do though.

13ghosts

i av not signed the letter yet they sent me for them to take my loan over..do i reply or igie it...thank u for help

CLAPTON

what exactly does the letter say?

Emmzi

I agree, you get no say at all in if they sell your debt on, if you have defaulted (which you have)

Tixy

It is written into pretty much all loan agreements/ credit agreements that they can sell on your debt to a third party if they wish.

If marlins have written to you to say that they have bought the debt then first it makes sense to write to them to get proof that they have bought the debt. They do have to prove they have a right to collect this money from you. This is a template letter - http://forums.moneysavingexpert.com/showpost.html?p=11570893&postcount=2

Then after they have sent something to prove that they own the debt (a notice of assignment) then I would suggest you write to marlin to make a repayment offer you can afford each month. Often a debt collector will agree to the same repayment that the original creditor was accepting.

People are advised not to talk to debt collectors on the phone and never to pay over the phone using a debit/credit card.