How can I trust the debt collector?

Mr_Spangle_Pants

I have a 7k debt with RBS which has gone to a DCA, Fredrickson Int. I am in a fortunate position to clear this default, I have a couple of questions:

1, Can I revert the payment away from the DCA back to the original lender?

2, Will the default be cleared if I:

a: Partially settle

b: Fully settle

Thank you in advance.

CLAPTON

1. it depends. if the debt has been sold then no, but if the DCA is merely acting as a collection agent then it will depend upon RBS.

However, you may find it easier to negotiate with a DCA than RBS so be cautious.

2. If general a default is a matter of fact and will stay on your credit record for 6 years.

However if you pay it off in full it will be marked settled and marked partially settled otherwise.
However you may be able to negotiate with them to mark it settled but its unlikely they will removed the default. Obviously make sure you have a written agreement before paying the settlement.

rog2

If you are looking for a short answer to your question 'How can I trust the Debt Collector?' then the answer must be that you can not. He is, after all, working in his client's interest and not yours.
That said, he should work within the guidelines laid down by the Office of Fair Trading (who you CAN trust) and any deviation from these guidelines should be reported to the Trading Standards Office.
However, I don't think that that is the main point of your thread. You are, indeed, fortunate if you are in a position to make a payment. This also puts you in a position of strength, when dealing with Fredrickson Int.
I would imagine that a percentage of the 'debt' is made up penalty charges, which may or may not be proportional to the debt. In any case you may wish to consider making an offer 'in Full and Final Settlement' of a lower amount than that demanded.
There are some good template letters on the National Debtline website.
If you decide to go down this road, you should insist that the payment is in Full and Final Settlement (get agreement from DCA in writing before you pay) and that the default is marked as 'Satisfied'.