OK. I could be being a bit thick but I received a letter today saying that GE money had transfered and assigned my account to Max recovery ltd and that my account will be administered on behalf of Max recovery by eversheds.
It also says that they will bew dealing with my nominee/supervisor/trustee in bankrupcy as required by law. It states that it is not a demand for payment and I am unlikley to be contacted by them again.
I am just a bit confused as I'm not sure what it actually means?!?!?!?!
It means GE money have offloaded your debt to Max Recovery and so GE money is no longer associated with you or your debt. It is not just Banks who trade in debt to make money with debt. Max RE' does too.Clever??
It doesn't matter who the debt is sold to. Your IP is who your creditors will deal with.
Last edited by Emily on Sat Mar 29, 2008 6:07 pm, edited 1 time in total.
Ah, thats ok then. We (my husband and I, joint) are offering 29p/£.
I take it that this means that it'll beMax recovery who'll be voting.
The main thing I was worried about is that if my iva is rejected, will Max recovery still demand payment in full or would they agree to a dmp?