Submitted on Sunday 21st August 2011
Published on Monday 22nd August 2011
Current status: Closed
Closed: Wednesday 22nd August 2012
Signatures: 3
Govt to investigate the sale of bad consumer debts
It is abhorrent that creditors can sell a debt for 10% of its value but yet the purchaser can chase 100% of the original value. People are in debt for many reasons and it is the vulnerable that suffer. If the original creditor was happy to accept 10% the surely the new debt collection agency/company should accept 10%? This is in my view a scam and must be stopped.
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