Sold Credit Agreement Help.

BBOA

Hello, does anyone know if it is mandatory under the terms of the CCA that a creditor has the mark the account as a 0 and settled/satisfied once they sell it to a DCA irrespective of what action the DCA choose to take or not take, in this case not bother pursuing the debt.

[Deleted User]

If they have sold it on, then yes.

If the DCA is acting on behalf of the original creditor to collect it for them, then no.

If this is Lowell's then they act on behalf of.

BBOA

It’s moorcroft I believe, Thank you so much Gary.

[Deleted User]

Then again if it's an Overdraft then there is no CCA

BBOA

Meaning they can report it as they see fit?

[Deleted User]

BBOA wrote: »

Meaning they can report it as they see fit?

They have to report accurately. If you haven't paid the overdraft within the terms of the agreement, and it's gone to collection, that should be reflected in your credit data.

BBOA

Thank you Camelot

[Deleted User]

BBOA wrote: »

Meaning they can report it as they see fit?

They would report it as it stands.

No one is going to make anything up or mis-report figures etc.

We've been through all of this in your other post/s

BBOA

Final question on this, I have spoken to the DCA who says the debt will drop off in 10 Months, also given the level of dispute they have advised they would not make an application for a CCJ. I have already contacted the financial Ombudsman Service regarding my dispute with the original creditor which will hopefully get resolved in time. Meanwhile how much benefit would there be in paying the DCA so the account would now show as settled.

Thanks in advanced.

BBOA

Hi Gary. It suggesting anyone would make up figures, but do you really think it is beyond the realms of possibility that there has been an error in associating the wrong individual with a credit agreement?

[Deleted User]

Then stick with your original post on the subject rather than making multiples