I took out an IVA two years ago, my circumstances are about to change and I will have to go BR. Just after I had the IVA I had two letters saying this company had bought my debts. I did not need to do anything they were just letting me know. Will this have an effect on my BR application at all.
Some of my debts had been sold when I went BR and it didn't make any difference. If I remember correctly when I completed the forms I had to list the name of the debt (e.g. Barclaycard) and the details of the company that bought the debt (e.g. Max Recovery).
Tomorrow is a mystery, yesterday is history, today is the present, a gift to make the most of.
This will have no effect on your BR. It is common for unsecured debts to go through a number of debt collection agencies. When filling our your SOA, try to list the current owner of the debt and make a reference to the original lender.
Debts have been sold
Posted - 06 June 2008 : 10:23:12
