Debt collector search of credit file

LMJ10

Hi im in a DMP with stepchange have been for 6 years, still paying and have about 5 years left. 

Assett collections this week have searched my credit report, although paying via stepchange every month, why would they do this? Should I be worried they are about to register a CCJ against me? 

sourcrates

Asset collections are just another debt purchasing company doing a search on you.

They have most likely acquired one of your debts.

Only a court can register a CCJ, should a creditor go down the legal route, then there is a legal process to be followed, a letter before action, followed by a claim form, which you can defend, nothing happens automatically, so relax.

fatbelly

I agree with the above. They'll be the new owner of something, and stepchange will be paying them instead of the previous one. 

Court action on a debt in a dmp is extremely rare as there is nothing to be gained from it by the creditor.

An 11-year dmp is very long though. You maybe want to think about saving a lump sum and hitting these people with a full and final settlement offer.

Asset will have bought this for something like 10% of the balance figure.

LMJ10

Just wondering why they would do a search when they’ve had my debt for a
while, unless another one has been passed on. 

I am waiting for my house sale to go thru, I have £30k left to pay and will have £10k lump sum so hoping to get it down with those funds on F&F