DMP Worry

knitter6462

I received a letter today from Aqua to say they are selling my debt to their partner debt collection agency.  Do payplan get information as it doesn't say who they are selling it to.  I'm totally stressed as I don't know what to do if I have to go to court.  I'm worried sick

lillypoo

Its normal to sell debts on . Try not to worry. Read the previous answers in this thread for reassurance about court not being likely to happen at all. 

The people who now own your debts will be happy you're on a plan and making payments 

Wimbledonwomble

Please ,please listen to the wise folks on here who tell you not to stress. I self managed my DMP ( leaving Stepchange)  with support of people on here. 

I was so scared and depressed for years ,I almost felt that people could tell by looking at me that I was in a mess ( much of it of my own making)which I see now was completely unfounded. One of my debts ,which had been sold on , had always worried me the most. The day I had to call them ,during the aftermath of a bereavement, and say that I would be reducing my payments was terrifying. I felt physically ill. I have always suffered from anxiety but this was off the scale. 

To my surprise, the person I spoke to. Thanked me for letting them know, expressed sympathy for my loss and was polite ,friendly and helpful. 

I know some who are not as friendly but I can honestly say nothing was ever as bad  as my overactive imagination feared.

You got into difficulties, you are dealing with it. The people you owe money too know they will be paid. Well done for addressing the problem . 

sourcrates

knitter6462 said:

I received a letter today from Aqua to say they are selling my debt to their partner debt collection agency.  Do payplan get information as it doesn't say who they are selling it to.  I'm totally stressed as I don't know what to do if I have to go to court.  I'm worried sick

It`s just a different owner that`s all, debts are bought and sold all the time.

You will more than likely get a letter from the debt purchaser shortly, just pass that on to Payplan, and they will start paying them instead of the original creditor.

Even if a creditor did take legal action, its all done online and by post, you do not actually attend a courtroom.

Do your own research to avoid overthinking things, your in a DMP, your money worries are over now.

Think about more important things, like, is it steak night tonight?, can we have mushrooms as well, yummy !!

Rob5342

It's good it's being sold as the dca will be more likely to accept a reduced settlement offer. The name "debt collection agency" sounds scary, but remember it's an investment for them. They might buy a £10,000 debt for £1000, and then if they get £3000 from you for it they've made £2000 just for sending a few letters. There is not really much incentive for them to take court action unless you don't pay then anything.

You might find that Payplan gets informed by Aqua or the DCA. When my Barclaycard card debt was sold to PRA the first I knew of it was when the name changed in my Stepchange account, and i got a letter about it a few weeks later.

knitter6462

Thanks everyone.  I am trying to deal with this and also my mental health which is not good.  I have been unable to sleep and was given sleeping tablets and also antidepressants.  Nothing seems to calm me.  Everyone on this site has been brilliant.  I'm sure everyone felt  the same but i have mental health issues and all this has just made me so anxious.   I really appreciate all your help.

MrRichTea

Aqua sold mine to Cabot https://www.cabotfinancial.co.uk/ last year, could well be them...

I've not heard a hoot from then since they started getting paid if that helps reassure you

knitter6462

Thank you everyone