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What does 'zero curbl on sold acct' mean?
ajp123
Posts: 1 Newbie
Hi,
Newbie to posting here but been lurking and reading for a long time. I am on a DMP with Step Change and have been for 5 years since getting into financial difficulties with my ex partner when he lost job and I was pregnant/on mat leave. Anyway I am on the DMP and I try to ensure all my balances and financial situation are updated regularly so I have a clear idea what is happening with my debts. Anyway on checking my last round of statements I found the transaction 'ZERO CURBL ON SOLD ACCT' on my MBNA statement. does this mean they have sold my account? And if so how does the affect my DMP as it is set up to pay the amount off this account but my statement now reads that the balance is zero so where is my money going? There has been one payment from my DMP since the date of the transaction. So what has happened to this money? Has it paid of any debt or just been wasted? I am very confused can anyone help please?
Newbie to posting here but been lurking and reading for a long time. I am on a DMP with Step Change and have been for 5 years since getting into financial difficulties with my ex partner when he lost job and I was pregnant/on mat leave. Anyway I am on the DMP and I try to ensure all my balances and financial situation are updated regularly so I have a clear idea what is happening with my debts. Anyway on checking my last round of statements I found the transaction 'ZERO CURBL ON SOLD ACCT' on my MBNA statement. does this mean they have sold my account? And if so how does the affect my DMP as it is set up to pay the amount off this account but my statement now reads that the balance is zero so where is my money going? There has been one payment from my DMP since the date of the transaction. So what has happened to this money? Has it paid of any debt or just been wasted? I am very confused can anyone help please?
0
Comments
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Zero current balance on sold account is my guess. Yes it looks like it has been sold and in due course you should get a notice of assignment.0
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It might be wise to stop paying that particular account for the time being, until you are contacted by the DCA that picks it up.
You risk "losing" these payments if you don't, as they may not be correctly allocated.I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter0
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