Debts which have been sold

Anthorn

Hanky_Panky wrote: »

What's a 'fringe of legailty' - you either comply with the law or not - if not then I would expect the full force of the law to be applied.
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You answered the question yourself:

Hanky_Panky wrote: »

It only becomes an issue if the company concerned do not cease collection activity after having been advised by the debtor that they will not pay.

I assume from your post that you have never had dealings with a debt collection company in relation to statute barred debt. But the bottom line is they take advantage of debtors who don't know their rights. Debt collection companies should be obliged to check whether a debt is enforceable and if it isn't they should be obliged to inform the debtor of their rights. But sadly that isn't the case. (pun intended).

Hanky_Panky

Anthorn wrote: »

You answered the question yourself:



I assume from your post that you have never had dealings with a debt collection company in relation to statute barred debt. But the bottom line is they take advantage of debtors who don't know their rights. Debt collection companies should be obliged to check whether a debt is enforceable and if it isn't they should be obliged to inform the debtor of their rights. But sadly that isn't the case. (pun intended).

I don't agree and frankly neither does the law.

I mentioned 'fringe of legality' as it was a term you used - you seem to imply that it was 'barely legal' and I pointed out it was either legal or not.

I have had plently of experience dealing with DCA's when helping and advising people who are in the financial mire. You state they take advantage of people and I don't see how. They ask people to pay their debt back - it is still owed regardless of whether it is enforcable or not.

Anthorn

Hanky Panky, sorry but I don't feed trolls.

Hanky_Panky

love it - dare to disagree, point out the flaws in an argument and you are immediately branded a troll. :rotfl:

chanz4

hynish wrote: »

Thank you Bankhater for at least trying to understand the predicament I'm in.

Datostar and chanz4 - do you not think you should have done likewise? I'd love to be able to pay my way again.

I don't know as always pay my bills, so you will have to tell me

k12479

Anthorn wrote: »

Debt collection companies should be obliged to check whether a debt is enforceable and if it isn't they should be obliged to inform the debtor of their rights.

And a debtor should be obliged to pay their debts.

Anthorn

k12479 wrote: »

And a debtor should be obliged to pay their debts.

Let's be clear on this: We are considering a creditor who has not taken any action at all to recover a debt for six years save for possibly passing the account to a debt collection agency. They may sell the debt and the buyer similarly doesn't do anything to recover the debt. Many creditors don't even live up to their legal obligation in keeping the debtor informed about the debt: Debtor clients of Lowell Financial, for example, will be well aquainted with their annual statement.

In my view such companies deserve to lose out on debts they do not by all accounts want to recover.

vax2002

Lenders insure against default, hence why it is in their best interests to do nothing for six years.

rizla_king

k12479 wrote: »

And a debtor should be obliged to pay their debts.

When a debt collector has bought a debt, and you pay the debt collector £100, how much of that goes to the original creditor that you borrowed from?

And how much of the next £100?

Yasmine_Wilson

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