Debt sold to Aktiv Kapital - what to expect?

loopy.magic

I've been on a self managed DMP for just under a year now, MBNA have just written to inform me that my credit card debt with them is being sold to Aktiv Kapital. Since starting the DMP I've been paying MBNA a regular amount without any issues.

What can I expect to happen now?

loopy.magic

Bump - Anyone?

loopy.magic

Bump - Final attempt for a response, anyone please?

wannabee_in_credit

My MBNA account was sold off to Moorcroft a couple of months ago. I'd been paying them through CCCS on my DMP for 2 years. Nothing has changed - just paying Moorcroft rather than MBNA - I'm sure I read somewhere on here that MBNA are pulling out of the UK altogether.

willy111

hiya.
i had a credit card debt with rbs,which got transferred to them.
so far so good.
they even offered a 50% early settlement figure this week.

belcam

willy111 wrote: »

hiya.
i had a credit card debt with rbs,which got transferred to them.
so far so good.
they even offered a 50% early settlement figure this week.

Are you sure it's not statute barred or they haven't got a copy of the agreement if they are offering a discount? Others on here will explain no doubt.

Rakaposhi

I have had a debt with them since 2008 and not had any problems. I told them what I could afford and they accepted it. If its going to take less than 5 years to pay I think they will be ok.

Check out their website, they seem to be offering various schemes which might save you some cash on your repayments. They have offered to settle with me a number of times too.

biggmick1

If you have defaulted on a debt and it 1st defaulted over 6 years ago, generally you cannot be made to pay back any of that debt.

If a debt collection company are offering you a discount, this is a ploy.
Its offering this discount because it knows it has little or no chance of collecting the debt, because they do not have a copy of the signed credit agreement or they know that you first defaulted over 6 years ago and they cannot legally take any action against you.
Search for the thread "Aktiv Kapital (UK) - Who are they?"
there is some great legal and procedural advice from people who have worked in the industry, with pre-prepared letters to send off to stop them hassling you.
Do not trust anything a debt collection company says to you, they chance there arm by using high pressure techniques (alternating between threats and discounts, it's the old good cop bad cop routine all in one letter, or more likely a dozen letters), They would go bust if more people knew their rights.
Remember they have bought your debt for a small fraction of what you owe, because your original creditor doesn't expect you to pay and is not prepared to use the unscrupulous and barely legal methods employed by these loan sharks in disguise.
Don't feel guilty about not paying them, they are vile leaches who are preying on people who are going through difficult times in their life. They knew the risk of non payment when they bought your debt.
If these companies were anyway honourable in the way they collect debts, I wouldn't advocate non payment but until the day they start behaving like decent human beings, it's "do as you would be done by"
Here's the thread again It's titled "Aktiv Kapital (UK) - Who are they?"
Good luck.
P.S. To check the date your debt defaulted and get continual free credit reports forever. Sign up for Noddle.co.uk you just get an odd email selling a few things but they don't hassle you too much).

bankhater_1965

biggmick1 wrote: »

If you have defaulted on a debt and it 1st defaulted over 6 years ago, generally you cannot be made to pay back any of that debt.

If a debt collection company are offering you a discount, this is a ploy.
Its offering this discount because it knows it has little or no chance of collecting the debt, because they do not have a copy of the signed credit agreement or they know that you first defaulted over 6 years ago and they cannot legally take any action against you.
Search for the thread "Aktiv Kapital (UK) - Who are they?"
there is some great legal and procedural advice from people who have worked in the industry, with pre-prepared letters to send off to stop them hassling you.
Do not trust anything a debt collection company says to you, they chance there arm by using high pressure techniques (alternating between threats and discounts, it's the old good cop bad cop routine all in one letter, or more likely a dozen letters), They would go bust if more people knew their rights.
Remember they have bought your debt for a small fraction of what you owe, because your original creditor doesn't expect you to pay and is not prepared to use the unscrupulous and barely legal methods employed by these loan sharks in disguise.
Don't feel guilty about not paying them, they are vile leaches who are preying on people who are going through difficult times in their life. They knew the risk of non payment when they bought your debt.
If these companies were anyway honourable in the way they collect debts, I wouldn't advocate non payment but until the day they start behaving like decent human beings, it's "do as you would be done by"
Here's the thread again It's titled "Aktiv Kapital (UK) - Who are they?"
Good luck.
P.S. To check the date your debt defaulted and get continual free credit reports forever. Sign up for Noddle.co.uk you just get an odd email selling a few things but they don't hassle you too much).

i didnt no that !! great usefull post keep it up

fatbelly

bankhater_1965 wrote: »

i didnt no that !!

What didn't you know? The stuff about unenforceability 6 years after default is oversimplistic if that's what you're referring to.

Try this.

Factsheet | Liability for debts and the Limitation Act

Growurown

biggmick1 wrote: »

Remember they have bought your debt for a small fraction of what you owe, because your original creditor doesn't expect you to pay

Not sure this statement is true. I had been paying my MBNA card regularly until things got so bad I started a DMP. I have been paying the card regularly on my DMP as well, so there was never an issue of MBNA not receiving my payment or thinking payments wouldn't be forthcoming, yet my debt was moved to aktiv as well after a year of being on the DMP.