when a creditor sells a debt question

Spent2much

AAD Master

Join Date: Jul 2012

Posts: 3343
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#1

when a creditor sells a debt question

27 October 2013, 06:48

When a creditor sell on a debt and that dca can't get any money out of us because we fight them with UE , do they get refunded the amount they paid for the debt from the original creditor or is that money lost .

I'm just wondering because if each time the original creditor sell on a debt and it gets passed back to them they are getting more than what the debt was worth if they don't have to refund so they are on a good thing here .

Just wondered

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Tags: creditor, dca, debt, liability, lost, money, paid, paper
SXGuy

AAD Moderator

Join Date: Jan 2012

Posts: 3819
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#2

27 October 2013, 08:43

Re: when a creditor sells a debt question

No not quite, if an OC sells on a debt for 1p to the £, and the DCA has to give it back, then they give it back at what they bought it for.

Its all paper anyway, unless someone shows me proof, i personally dont believe any money exchanges hands, the OC just plays asset / liability tennis with the amount, and no doubt so does the DCA

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