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 Hi, are collection agencies allowed to add more
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bill
Junior Member

178 Posts

Posted - 08 June 2009 :  22:25:13  Show Profile  Reply with Quote
Hi, are collection agencies allowed to add more interest even if you have told the original creditor that you have no assets etc and have provided a statement of means (or do you need to send that statement of means to every agency, when she keep selling the debt on?). Many thanks Bill

Niobe
Administrator



United Kingdom
4590 Posts

Posted - 08 June 2009 :  22:50:28  Show Profile  Reply with Quote
I believe that until you declare BR or enter into another financial arrangement such as an IVA or DMP, they can add interest and charges.

One of the experts will correct me if I am wrong.



The glimmer gets brighter all the time

Jan
xx
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gettingoutofdebt
forum expert



2418 Posts

Posted - 09 June 2009 :  08:18:13  Show Profile  Reply with Quote
Creditors can continue to add interest until you are declared BR or enter into an IVA. In a DMP creditors are requested to freeze the interest but this very rarely happens.
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Niobe
Administrator



United Kingdom
4590 Posts

Posted - 09 June 2009 :  08:43:19  Show Profile  Reply with Quote
I have to say that the DMP I did all my creditors froze interest and charges from day one.

I know of a few other people who have also had them frozen.

The glimmer gets brighter all the time

Jan
xx
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bill
Junior Member

178 Posts

Posted - 09 June 2009 :  11:08:01  Show Profile  Reply with Quote
cool, thanks again Bill
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