Payment plan

Zinger549

You set up a payment plan with a debit company (A). You  then get a letter saying your debit has been borough by another debit company (B). What happens to the payment plan with company (A), does it automatically stop.

Brie

Normally A would send a letter stating that B is taking over possibly advising it's at X date.  

But yes, stop paying A and start paying B.  Keep track of the amounts paid to each at what dates.

Presumably you have checked that the debts are collectible?  They've provided a copy of the credit agreement etc?  Things tend to get lost when debts move from the original creditor to various debt agencies.

sourcrates

Debts are bought and sold all the time in this game, assuming you made the payments manually, you just pay the new collection company instead.

The arrangement you had with the first collector, ended when they sold the debt, you then start paying the new lot whatever you can afford.

Its best practice to make these debt purchasing companies actually work for their money, so have you asked for proof of liability for the debt in question, by submitting a request for information under sec 77 CCA?

If not, then I would do so, this is a formal request with a specific timescale for response, and carries the added penalty of unenforceability if not responded too.