www.iva.co.uk

Hi all hope everyone is doing ok

Had a letter from eversheds noting that in September Barclaycard sold my debt on to Max Recovery ltd. It states that the letter is for info only and that they will be dealing with my trustee in BR direct.
However, I am curious, why would they purchase the debt when I petitioned for BR in August and how much were they likely to have paid for the debt? By my calculations they are not likely to get more than a couple of p to the pound back, I would imagine less than they bought the debt for????? Or is this normal practise?

Pippa

Hi Pippa
I think how it works is that they buy blocks of debt. On some they'll make a loss but on others they'll make a profit. They took over some of mine too.

Pixie

Hi Pippa

I got the same letter and I'm returning min. 38p in the £ on my IVA. Like Pixie points out some will be profitable and others not so.

Regards

Dave