Natwest Selling on `Wriiten Off Debt`

[Goosed]

Had a surprise in the post yesterday.

A letter from Natwest Credit Card (RBS) three months after IVA completion informing Me that they have `reassigned` my outstanding debt to Max Recovery/Eversheds, and requesting I contact said DCA and my insolvency practitioner with any future correspondence.

I contacted Max Recovery informing them that this debt was part of a completed IVA, they claimed they will `update their system`.

Staff at The Insolvency company who managed my IVA very kindly contacted Natwest who claimed I had been sent the letter in error, but it seems Natwest had sold on the amount of the debt that should have been written off after receiving all their dividends[:0]

Lets see how things pan out with Max Recovery/Eversheds.

[size5]

This is quite common, sadly.

Creditors sell on vast quantities of debt, for pennies in the £. It is bad luck on Max recovery who have paid out for a debt that they cannot recover, but for them that is an occupational hazard and is nothing for you to worry about.

Regards.

[Foggy]

They sell toxic debt in "lots", much like catalogue company returns by the pallet -- they are bought "unseen" and the new owners take the risk.

[vito]

I was just about to post this, apologies for hijacking your thread Goosed.

I have had the same letter from NatWest, IVA completed in June. Shall I contact Max recovery? I don't really feel like calling them up from past dealings.

[Goosed]

Hi vito,

I did phone Max Recovery/Eversheds and they seemed fine when I explained about the debt being part of a completed IVA,

I also informed them that I could send copies of my completion certificate and final report showing the account in question as part of my IVA.

I was told that wouldn`t be necessary and that they would update their system and I was assured that I wouldn`t be pursued for the `debt` they had bought.

Time will tell I guess, but I will be keeping a close eye on my credit files and waiting to see what the postman brings.