Who has the debt - Who do I pay?

madasaboxoffrogs

I'm looking into partially clearing my debts due to coming into some money, the prpblem is, I've been ignoring them up to know and they have been passed from agency to agency - I'm sure if I offer an agency some money, they will bite my hand off wether they hold the debt or not....how do I find out who actually holds the debt to be sure that I pay the right people?
Thanks,

crawley_girl

I'm not sure of the answer but perhaps someone else will pop along and be more knowledgeable!

Shamless bump!

zipwen1

if you have a credit card/debit card you can take experians free credit report trial online it comes up instantly. when i looked on mine it showed the contact details of the company's that i owe money too

fatbelly

You need to make a list of your debts - who they started out with, reference numbers, amount and who corresponded with you most recently. If the amounts of two debts look similar, it may be the same debt so be careful.

When you get a letter from an 'agency' it could be because they are collecting on behalf of the original creditor or because they have bought (at a discount) your debt and now own it.

These latter companies are the ones you want to target. If they have paid say 25p in the pound, they may well accept 30p in the pound. You won't know how much until you start to make offers.

Thre's a factsheet here

Regarding the debts owned by the original creditor, they also may be willing to accept 'full and final settlement offers' because they will also be considering selling the debt on.

Be smart and you might clear more debt than you originally thought!