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Debt company exchange rate

supasick
supasick Posts: 126 Forumite
Ninth Anniversary 100 Posts Combo Breaker
in Debt-free wannabe
I owed 522 euros and it has just been sold on to a scottish company. They have sent me a letter stating i owe £522. Can they pick an exchange rate or do they have to use a reasonable one? I'm happy to pay back what i owe now i actually have money to throw at it! But they've just added another 70 quid by using the worst exchange rate possible!
Was debt free then ex walked out and COVID hit.

Comments

  • Tixy
    Tixy Posts: 31,455 Forumite
    Does it specifically mention an exchange rate - its not just a typo that they've confused 522 euors with £522?
    You could see how much it would cost with your bank to send the payment in euros, and how much less that might be.
    A smile enriches those who receive without making poorer those who give
    or "It costs nowt to be nice"
  • brightonman123
    brightonman123 Posts: 8,535 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    can you pay the original creditor what is owed, in Euros?

    imo, your contract is with them, not whoever buys it off?
    Long time away from MSE, been dealing real life stuff..
    Sometimes seen lurking on the compers forum :-)
  • supasick
    supasick Posts: 126 Forumite
    Ninth Anniversary 100 Posts Combo Breaker
    It doesnt say anything about exchange rate, it just states my outstanding balance is £522.72. It could be a typo but want to know as much as i can before starting to write to them.
    Was debt free then ex walked out and COVID hit.
  • supasick
    supasick Posts: 126 Forumite
    Ninth Anniversary 100 Posts Combo Breaker
    ok i've written them a letter asking them to clarify the outstanding balance. With any luck they will have just made a typo and it will all be sorted. Hopefully!!!!
    Was debt free then ex walked out and COVID hit.
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