debts sold

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micawber

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Post by micawber » Fri Jan 20, 2012 9:53 am
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we have just completed our 2nd year on our iva. this week i recieved 2 letters from creditors barclaycard and mbna informing us that they had sold and transferred the debt. mbna to a recovery company to be administered by a firm of solictors,barclaycard to a firm in luxembourg also to be adminisered by a uk firm. is this common practise do these firms get the debt very cheaply to make it worth their while.
my other piece of advice copperfield is mr micawcer said, annual income £20 annual expenditure £19/19s/6d result happiness, annual income £20 annual expenditure £20/6d result misery.
charles dickens
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kallis3

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Post by kallis3 » Fri Jan 20, 2012 10:08 am
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Hi micawber, nice to see you and hope you are well.

Nothing to worry about, this is a very common practise and I think most of us have received letters in the last week. They do buy the debts cheaply and the original creditors just write it off as a bad debt.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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footiemad

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Post by footiemad » Fri Jan 20, 2012 10:53 am
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Don't worry I've had exactly the same latters sent to me within the last 2 weeks. You shouldn't be affected by this at all because they will deal with your IP x
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kallis3

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Post by kallis3 » Fri Jan 20, 2012 10:55 am
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I think it is just a letter they are obliged to send just to let you know that the debt is with a different company now.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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janez

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Post by janez » Fri Jan 20, 2012 9:53 pm
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hi, i too received a letter from luxemberg re.. barclaycard this week ive just filed it away, so does this mean i now owe the new company the money instead of barclaycard? sorry.. do i sound thick lol x
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kallis3

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Post by kallis3 » Sat Jan 21, 2012 8:47 am
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No, you don't sound thick!!

Yes, you will owe the money to the new company, not Barclaycard.
Sharing from experiences of dealing with debt
The greatness of a man is not in how much wealth he acquires, but in his integrity and his ability to affect those around him positively.
Bob Marley.
http://kallis3.blogs.iva.co.uk
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janez

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Post by janez » Sat Jan 21, 2012 11:28 am
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thanks kallis x
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