www.iva.co.uk

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.

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.

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.

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.

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.