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DCAs that buy debt.
JLvVZ
Posts: 1 Newbie
Just looking for a percent figure. What percent do debt collection agencies buy debt from the original creditor? Asking. Cause this will be my prelude to making a claim back through the small claims court. From two agencies who are ripping me off.
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Comments
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There is no set figure.Free/impartial debt advice: National Debtline | StepChange Debt Charity | Find your local CAB
IVA & fee charging DMP companies: Profits from misery, motivated ONLY by greed0 -
Just looking for a percent figure. What percent do debt collection agencies buy debt from the original creditor? ...
Depends on what they're buying. Might be 10p in the pound. Might be 50p.... Asking. Cause this will be my prelude to making a claim back through the small claims court. From two agencies who are ripping me off.
I don't understand. On what grounds would you make such a claim, and why would it matter what the DCA had paid?0 -
Just looking for a percent figure. What percent do debt collection agencies buy debt from the original creditor? Asking. Cause this will be my prelude to making a claim back through the small claims court. From two agencies who are ripping me off.
Hi JLvVZ
A debt collection agency is entitled to pursue the full amount of a debt they've purchased - regardless of what they have paid for it (a figure which they will never, ever disclose to you, incidentally).
Please ensure that you get some independent advice before considering any sort of counter-claim, otherwise you risk leaving yourself (further) out of pocket.
Dennis
@natdebtlineWe work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps0
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