If you ever wondered

[ken100464]

Ever wondered how much they pay for your debt to hassle you and make your life miserable.

Have a read of this and see what our friends pay.

Disgusting to think its 4%. And if this is an average just think what a crap portfolio costs. Do the banks actually pay them to take it away.

http://www.credittoday.co.uk/article...global-results

The sooner the OC is made to sort their own shit out the sooner we will have a fairer society.

[Diasflac]

Re: If you ever wondered

I should start my own debt collection firm, and only ask for 10% of the total debt. I'd still over double my money. I'd be unbeatable competition to the other DCA's and I wouldn't have to harrass people to make unaffordable payments .

Seriously though, I have a debt of £10,000. They buy it for £400. Then have the cheek to add fees and costs on top, then all they do is constantly phone and send out letters. Then take someone to court and make a killing.

I think this needs it's own regulatory body somehow

[ScabHunter]

Re: If you ever wondered

What it needs is for Francis Bennion's odious legislation, the Consumer Credit Act 1974, to be replaced with something coherent.

I'll ask this question to the married men – How would you feel if, one morning, you woke up to find a strange looking, ugly fat woman in the bed beside you. As you look startled, she says “Sorry, dearie, you didn't mow the lawn on Sunday or put the new shelves up, so your wife's defaulted you and sold the marriage contract to me. I do hope we're going to get along.”

It is only Bennion's legislation which creates the breeding ground for these leeches to exist in the first place. If the parties to the contract were unable to evade responsibility by selling their fallout and robbing the taxpayer in the process, none of this misery would ever occur.

SH