Bank has sold my bankrupt debt to third party

ticktock69

Hi All


I was declared bankrupt at the end of January this year.


I just received a letter from a creditor,Barclaycard, saying that they have sold my accounts to PCO Holdco in Luxembourg (debt buying agency) and will be administrated by Watch Portfolio Management in Belfast.


I'm guessing that PCO have bought my accounts with the aim of getting some kind of payout from my OR with any assets I have which is very little as I rent, my wife owns the car and has proof, plus Im not earning yet but will be but not a fortune.


My main question is, will this type of organisation try to do anything after my BR ends and are they know for using certain tactics to gain money?


Many thanks.

silvercar

I'm guessing that PCO have bought my accounts with the aim of getting some kind of payout from my OR with any assets I have which is very little as I rent, my wife owns the car and has proof, plus Im not earning yet but will be but not a fortune.

I would guess that they have bought a batch of debts, at a very reduced rate of pence in the £. Some will pay up and some won't.

When they come chasing you, just tell them you went bankrupt on xx date and they should leave you alone.

Helpmeoutofthismess

I wouldn't worry about it, they bought one of my barclaycard credit card debts during my bankruptcy but I only knew because I saw the change on my noddle report. I never heard a word from them during my bankruptcy or afterwards and they were very quick to mark my account as 'satisfied' when I asked them too through Equifax.

Roll on AD, the only way is up now :j

H x

ticktock69

Thanks both for your advice, appreciate it!

mwarby

Had the same during my IVA

As I understand it 'watch' are what used to be grant thornton iva watch, they specialise in handling insolvency cases for creditors(they are seperate to the division of grant thornton which proposes IVAs)

I believe the PCO hold co thing is to make barclaycards books look as good as possible, more than anything else

I never heard from them after the initial debt transfer letter, they updated my accounts 2-3 months after the IVA concluded