Selling CCJs
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Karen3005giz
Posts: 1 Newbie
Due to difficult circumstances I ended up getting 2 CCJs. One in 2014 and another in 2016. I have been maintaining regular payments ever since, even when the accounts were “sold on”. I’m in a better situation now and although I can’t clear them I’m working on it further and clearing them more quickly.
I just wondered about legalities of the CCJ still being registered If it has been sold on. Surely if the order was made for the original company and the 2nd company has cleared that debt with them by buying the debt, the CCJ should be marked as satisfied with the original company and no longer valid, even though the money is still payable. Or am I just being very dim when it comes to the complexities of the financial and legal system?
Any words of wisdom appreciated. 😁
I just wondered about legalities of the CCJ still being registered If it has been sold on. Surely if the order was made for the original company and the 2nd company has cleared that debt with them by buying the debt, the CCJ should be marked as satisfied with the original company and no longer valid, even though the money is still payable. Or am I just being very dim when it comes to the complexities of the financial and legal system?
Any words of wisdom appreciated. 😁
0
Comments
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CCJ's can't be sold on.
Defaulted accounts can be sold on.0 -
Nothing to worry about. It's fine for debts to be sold in, as long as there is just one current debt being reported.
The CCJ will drop off after 6 years.0 -
The CCJ isn't sold per se, but the debt can be. If ownership of the debt changes hands then the new owner can enforce any rights that the previous owner had in relationship to the debt - including any court judgements if applicable. The date of default/CCJ still back dates to the original dates action was taken, so changing owners doesn't reset the clocks on anything - it should still all fall off 6 years after the event.0
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The old debt isn't cleared by "them buying the debt". The ownership of who has the right to collect will change through debt purchase and a notification is sent to the debtor, but the debt still exists, its not an old debt by one then paid off to be a new debt by another - don't think of it like balance transfers on credit cards, it's more akin to selling a car, the car is still there whoever owns it the old car isn't removed and a new car looking the same created!0
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