I have just realised that Max Recovery have bought all my debts!
I was wondering if that means that they paid the original debt amount or the dividend amount? Also, now they have bought this debt, are they less likely to accept a variation to my arrangement?
Max Recovery buy bad debts for just a few pence in the pound. They are still however entitled to the original promised dividend.
Theres no guarantee that just because they bought the debt for next to nothing, they would agree to accept anything less than the ammount on your chairmans report but of course never say never.
Max bulk buy insolvent debts and are very good to deal with. It is unusual for them to reject a variation if the situation is explained and the proposal still offers a better return than bankruptcy.
Good luck and let us know how your variation goes.
