Debts sold on

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moira717
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by moira717 » Fri Apr 07, 2017 12:10 pm
Hi everyone, today I received letter from a debt collection agency who had taken over my Barclaycard debt. Haven't yet received my info pack from stepchange so bit unsure what to do. Should I send it to them or file in the bin? Has seemed a strange week, am s o relieved via was approved ! Just feel I want to get started now ( sooner started/ sooner ended) first payment not until June. Although am saving like mad and putting money aside in an emergency fund! After so many years of stress and hiding things, it seems strange now to suddenly feel in control and be open about things. Never thought this day would come! Today was my clear out day, getting rid of all old statements/ letters. Bought a new A -Z to file all my receipts, bank statements, payslips etc. It's quite liberating. Next 6 years here I come! :D
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kallis3
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by kallis3 » Fri Apr 07, 2017 12:17 pm
Always happens - most debts are sold on. You can either keep it and file it or send it to Stepchange, it is nothing to worry about.
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moira717
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by moira717 » Fri Apr 07, 2017 12:35 pm
Thank you kellis , was worried if I did nothing they wouldn't know I was in iva and would harrass me for the debt. When these companies take over the debt are they already aware the person is in an iva ?
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Foggy
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by Foggy » Fri Apr 07, 2017 12:44 pm
They might write to you -- they are not always aware of the IVA when they buy debts. If that happens just pass it to Stepchange.

They buy debt in auction lots ... mixed bundles and it is a case of "some they win, some they lose". They don't always know what they are buying until after tyhe deal has been done ... but they are only paying pennies in the pound. It could prove useful later on, if you have to reduce payments or somesuch, because their investment is so much lower and they can take a bigger hit.
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Oya
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by Oya » Fri Apr 07, 2017 1:04 pm
Hı Moira
I have had endless calls and piles of letter od defults notices as well this week. Some calls i answered and explain some i just ignore not answer at all. I was warned about the call centres and letters might go on for another couple or 3 months by Stepchange. Dont expect so much of the pack you will receive which only contains modification letter you must sign and return and chairman s report showing your iva been approved and whose vote what. There is a booklet with some info.
i still cant believe my iva approved so these letters and calls stiil frighten me and i am stopping myself to ring Stepchange to confirm if its really happened.
İ think we lived with stress so long that its taking time to adjust and sink the idea of i have a plan now..
You take care xxx
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moira717
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by moira717 » Fri Apr 07, 2017 6:50 pm
Thank you foggy, that's very interesting. Actually got my welcome pack from stepchange late this afternoon, actually saw in list of those who had voted this company had already taken over the debt at time of voting so stepchange must already be aware. I still sent letters off with modifications from anyway. Am learning something new every day! Oya lovely to hear from you. Yes I am still getting letters by the sack full. That's the worst part in all this. I keep answering phone just to prevent them ringing me at work. Stepchange also told me that can take up to 3 months before mail stops. I was amazed looking at form today how many creditors did not vote; one of which was my biggest debt. We have done the worst bit. Onward and upwards from now. Seems such a long process when you going through it but will all be worth it in end :D
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benjiboo1
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by benjiboo1 » Fri Apr 07, 2017 8:14 pm
It will all calm down soon moira. At the end of the day they cannot do anything to you. You are protected by your iva. Onwards & up. I'm sure you feel better than you did this time last week.
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moira717
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by moira717 » Sat Apr 08, 2017 5:57 am
Thank you benjiboo , yes definitely in a better place this week! Will feel better in couple of months when creditors letters stop. I know they can't do anything now but is a constant reminder! However I think to where I was 2 months ago and feel I have been given my life back :D
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Allywally
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by Allywally » Sat Apr 08, 2017 6:56 am
Moira717 that feeling will continue, it is good to feel you are back in control. :D
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moira717
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by moira717 » Sat Apr 08, 2017 12:41 pm
Thank you. :D
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