Is it normal for debts to be sold ?

Get expert opinion. This is the place for new questions to be posted.
5 posts Page 1 of 1
 
 

Simon.08

User avatar
Posts: 2
Joined: Fri Dec 18, 2015 3:50 pm

Post by Simon.08 » Fri Aug 26, 2016 6:51 am
Ive been in an Iva for 3 years now. All my debts have been sold. Is it normal for some of my debts to have been sold to another company who uses my IVA company to administer the debt. Surely there is a conflict of interest there??.
 
 

kallis3

User avatar
Forum Expert
Posts: 77167
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri Aug 26, 2016 7:54 am
Hi and welcome,

Yes it is normal for most debts to be sold on.

There won't be a conflict of interest.
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
 
 

kallis3

User avatar
Forum Expert
Posts: 77167
Joined: Mon Mar 17, 2008 4:02 pm
Location: United Kingdom

Post by kallis3 » Fri Aug 26, 2016 7:57 am
I'm a little confused Simon - you say you are in year 3 and yet in a previous thread you said you were in month 58.

http://www.iva.co.uk/forum/topic.asp?TOPIC_ID=74935
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
 
 

relieved33

User avatar
Posts: 1166
Joined: Mon May 18, 2009 7:22 pm
Location:

Post by relieved33 » Fri Aug 26, 2016 7:58 am
Our's were and it didn't make any difference to us, in an iva you can only pay what you can afford to pay and the rest is written off.
 
 

Foggy

User avatar
Posts: 33396
Joined: Fri Dec 17, 2010 11:14 am
Location: United Kingdom

Post by Foggy » Fri Aug 26, 2016 10:07 am
Debts are often sold on. The company that have bought some of yours might be in the same group as the IVA firm you are with, but there are firewalls between the two to prevent any conflict of interest
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014
5 posts Page 1 of 1
Return to “Ask IVA Forum and Industry experts”