Selling debts on

fatboy88

Hi, i have an Creditors meeting due on the 31st but iseem to be getting letters saying they have passed the debt to our external agency, does that mean they dont own the debt anymore and i have to deal with a new company from scratch?

thanks
will

james32_uk

Yes, but it's no bad thing. They will have sold the debts on for a very small amount seeing you are having money troubles and your new debtors are more likely to accept your IVA offer.

fatboy88

hey mate, you the same james 23 on the debt site

james32_uk

Yep !

CLAPTON

what sort of creditors meeting?

james32_uk

A creditors meeting for an IVA application.

Tootsie_Roll

james23_uk wrote:

They will have sold the debts on for a very small amount

There is nothing in fatboy's post that suggests that - it says 'they have passed the debt to 'our' (?) external agency' which most likely means they have instructed another agent to collect it on their behalf. If they had sold the debt on it would clearly state that.

Fatboy - you will have to deal with another company but the debt is still owned by the original creditor.

CLAPTON

if its an IVA creditors meeting why are you dealing with the situation, surely your IVA /IP company deals with organising the meeting etc.

james32_uk

Tootsie_Roll wrote:

There is nothing in fatboy's post that suggests that - it says 'they have passed the debt to 'our' (?) external agency' which most likely means they have instructed another agent to collect it on their behalf. If they had sold the debt on it would clearly state that.

Fatboy - you will have to deal with another company but the debt is still owned by the original creditor.

Good point. Worth checking on.

fatboy88

Hi, i spoke to egg and they says its their external DCA that they use but they couldnt say if it has been sold on or not as it was the weekend and i have to call back on monday.
So basically i have to give them all the details again for everything, its just when they call how do i know if they actually have authority to deal with the debt do they have to put it in writing first?

many thanks