A DCA Writes

[Never-In-Doubt]

Re: A DCA Writes

Even worse is the fact that you could offer the same amount to the OC and they would do the same, but they will sell it on to some lowlife debt buyer who will then attempt to make several thousand percent profit on it.

See now here's the thing. The OC cannot do it with a consumer direct or they cannot sell it as a tax write off. If they give away a discount that comes off shareholder profits as part of any budgetary limitations. They must sell it as a business debt (or loss). The fact they made x% is all that counts as far as HMRC goes.

Thus we always suggest letting the OC sell to a DCA before making any F&F offers.

Clearer?

[ken100464]

Re: A DCA Writes

they will sell it on to some lowlife debt buyer who will then attempt to make several thousand percent profit on it.

And where does the lowlife debt buyer get alot of its money to buy the debt.

Oh yes from the banks. Who then get a nice little earner on the interest on the loans to these debt buyers.

A very mucky industry indeed.

[Fred Bassett]

Re: A DCA Writes

See now here's the thing. The OC cannot do it with a consumer direct or they cannot sell it as a tax write off. If they give away a discount that comes off shareholder profits as part of any budgetary limitations. They must sell it as a business debt (or loss). The fact they made x% is all that counts as far as HMRC goes.

Thus we always suggest letting the OC sell to a DCA before making any F&F offers.

Clearer?

As mud. To us simple folk it's just not right.

[Never-In-Doubt]

Re: A DCA Writes

And where does the lowlife debt buyer get alot of its money to buy the debt.

Oh yes from the banks. Who then get a nice little earner on the interest on the loans to these debt buyers.

A very mucky industry indeed.

Actually mate the banks don't lend that heavily to the debt industry; not directly anyway. It's usually investment portfolios and hard core investment mechanisms that fund it. Large return on capital with security assured across £x millions when they sit on thousands of CCJ's/CO's etc.

Sickening

[Fred Bassett]

Re: A DCA Writes

Actually mate the banks don't lend that heavily to the debt industry; not directly anyway. It's usually investment portfolios and hard core investment mechanisms that fund it. Large return on capital with security assured across £x millions when they sit on thousands of CCJ's/CO's etc.

Sickening

It certainly is sickening. An entire business sector built on fear and misery, second only to child pornography as the most vile industry in this country.

[julian]

Re: A DCA Writes

Vile can be good, for some anyway. Faceless vile is hard to accuse.

These investment portfolios and hard core investment mechanisms help the economy and bring in funds from abroad making the Stock Exchange the envy of the world (like the BBC). They also are sponsored indirectly by most of us through pension fund investments.

[Fred Bassett]

Re: A DCA Writes

Vile can be good, for some anyway. Faceless vile is hard to accuse.

These investment portfolios and hard core investment mechanisms help the economy and bring in funds from abroad making the Stock Exchange the envy of the world (like the BBC). They also are sponsored indirectly by most of us through pension fund investments.

It's not good for the victim's though is it? There have been plenty of those.

[greymatter]

Re: A DCA Writes

The real twist in all of this is when unsecured debt becomes a secured one,and an unsecured Company debt gets written off.

[The Tech Clerk]

Re: A DCA Writes

Turning Unsecured debt into a Secured debt is completely wrong: -

Taking into the fact that the Interest Rate is like an Insurance to a Bad Debt arising, the problem with the method is no doubt exasperated by MPs etc who look to be on Boards in later life, some in an advisory position and rake in Thousands of Income, so self interest in debate is paramount to their interest.

[jon1965]

Re: A DCA Writes

Vile can be good, for some anyway. Faceless vile is hard to accuse.

These investment portfolios and hard core investment mechanisms help the economy and bring in funds from abroad making the Stock Exchange the envy of the world (like the BBC). They also are sponsored indirectly by most of us through pension fund investments.

And that says everything you need to know about the state of things in the capitalist society that is Britain.
I used to be quite pro capitalism until I started to really see the misery it causes people, how the rich get richer, the poor poorer and the vulnerable exploited.

[cardiac arrest]

Re: A DCA Writes

Not sure how many DCA's are in fact quoted companies. One I have looked into has private shareholders (mainly family).

I suspect even forbidding OC's from selling accounts on wouldn't work as they would just buy up the DCA's and say it is 'in house'.

We're doomed......

[jon1965]

Re: A DCA Writes

Well there are some that are multinational Arrow global are part of RBS I think

It tends to be the tin pot ones and the doorstep collectors who are small(ish) concerns