Old Debt never sold

mugglydebt

Is there any reason why an old Capital One credit card debt from 2009 (default registered in 2010) was never sold?. I have paid £1.00 to Fredrickson for past 7 years and receive 2 half yearly statements from Capital One showing monthly £1.00 payments on a £8,000.00 debt.

All my other 5 debts from 2009 totaling £19,000 were sold in 2010 (all paid £1.00 per month). I was made redundant in 2009, am not employed - nearing retirement age and not claiming any benefits as I am supported by my spouse who transfers a small amount into my bank account.

sourcrates

Hi,

It’s purely a commercial decision to sell a debt or not.

Sometimes accounts just get put to one side if deemed unrecoverable.

No rhyme or reason to it.

National_Debtline

Hello mugglydebt


As sourcrates suggests, there's no hard and fast rules that determine when or why debts get sold on. Perhaps you might see some activity at the debt's end if you suddenly stopped your payments, but there's no way of knowing for certain.


Presumably the default and other details of this debt have now fallen off your credit file altogether? It may be worth reviewing your options for dealing with them as a whole now, though of course if you are happy with the status quo of paying all £1 per month you can simply continue doing so.


https://www.nationaldebtline.org/EW/factsheets/Pages/ways-to-clear-your-debt/debt-advice.aspx


Dennis
@natdebtline