Debt collection agencies

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  • National_Debtline
    National_Debtline Posts: 7,998 Organisation Representative
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    Hi Sean91


    You are right, the debt will drop off 6 years after the date the default was first registered. You may also find the debts showing as closed with a zero balance are the entries added by the original creditor. That is how it is usually recorded when they sell the debt on.


    A debt collection agency who buys the debt can choose to add a new, second entry recording the debt. If they do this, they must use the same default date as the original creditor.


    Susie
    @natdebtline
    We 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 Steps
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