Selling a loan

rosecottage22

Can a loan be sold without your knowledge? Had a loan with new day and noticed the payment hadn’t gone out this morning. Logged into my loan account to discover it’s been sold to asset link capital no 7? I’ve not been informed, had no paperwork etc. Can they do this?? I’ve called them this morning as I was worried a payment had not been taken but they said someone would call me back. 

[Deleted User]

Yes they are allowed to sell your loan

rosecottage22

Thanks. It would have been nice to have been informed though. 

p3ncilsharpener

rosecottage22 said:

Thanks. It would have been nice to have been informed though. 

They will do eventually, but they certainly won't send anything out until the deal has completed, and it appears that's only happened in the last few days.

molerat

https://forums.moneysavingexpert.com/discussion/6285513/newday-aqua-loan-closed-direct-debit-cancelled/p1

frankglemstone

Thanks pal, I just got the notification that my loan got sold and i was looking all over the forum to find any info on what the hell it is