A debt is owed to me, can I sell this to a company?

Ianjones0879

Hi all, apologies if wrong group, last year I won a CCJ against someone for over £1000, they refused to pay it, so got DCBL (waste of time) involved who couldn’t recover the money. I can’t afford to keep going to court or paying companies to try and get this money, but I also don’t want him to continue to get away with it. Is it possible for me to sell this debt to a company so I get some money whilst they chase him for the full amount? I’ve looked at so called “no win no fee” companies who take a % of the amount but they all want £150 upfront for costs, which isn’t an option for me right now. Thanks in advance.

ArbitraryRandom

Sure... if you can find someone who wants to buy it. But you might find a single relatively low value debt isn't worth it to them (the companies tend to buy in bulk for pennies on the pound on the basis that most of the debts won't pay out). 

Worth remembering you have 6 years to enforce a CCJ, so if it's a question of personal satisfaction you may be best waiting a while to see if his situation changes (he might inherit a house or start a new job so you can get a charge on the property or attachment of earnings...) 

forgotmyname

If they want upfront costs then it sounds like your not selling the debt to them, your employing them to collect the debt.

If you sell the debt to them you will get a fraction of the true value assuming they even want to take the debt on.
Your £1000 debt could be worth as little as £40 you you sell it and wash your hands of it.

Depends what you want, they will still chase him for the £1000, although they may offer a discount to settle early
but it will no longer be yours.

Olinda99

why were DCBL useless did the debtor not have any assets? or was there another reason why they could not recover the money

born_again

Is this a individual person or business?

Ianjones0879

Hi, DCBL were useless as their communication was bad, they visited 3 times and then stopped, and then charged me £90. I would highly recommend using other debt agencies who advice that they continue until payment as they take a percentage at the end (incentive)

Ianjones0879

Hi @born_again this is an individual 

Ianjones0879

Hi @forgotmyname do you know of any companies?

Olinda99

Ianjones0879 said:

Hi, DCBL were useless as their communication was bad, they visited 3 times and then stopped, and then charged me £90. I would highly recommend using other debt agencies who advice that they continue until payment as they take a percentage at the end (incentive)

yes but as I sad - does the debtor have any assets ?

MattMattMattUK

Ianjones0879 said:

Hi all, apologies if wrong group, last year I won a CCJ against someone for over £1000, they refused to pay it, so got DCBL (waste of time) involved who couldn’t recover the money. I can’t afford to keep going to court or paying companies to try and get this money, but I also don’t want him to continue to get away with it. Is it possible for me to sell this debt to a company so I get some money whilst they chase him for the full amount? I’ve looked at so called “no win no fee” companies who take a % of the amount but they all want £150 upfront for costs, which isn’t an option for me right now. Thanks in advance.

Do you know if the person you have the CCJ against has a job? If they do then apply for an attachment of earnings. They are very effective against people who are in employment

https://www.gov.uk/government/publications/form-n337-request-for-attachment-of-earnings-order/attachment-of-earnings-order-guidance