Thankyou Andy for understanding me.
I was starting to think it was just my wife who did.
It just doesnt make sense to me.
I was prepared to pay 100% of our debt(63k) but over ten years,but no they sold it for 6k over 5 years!!!!
Im no business man but...
blods
Hi
I think that once you struggle to repay and default on your borrowings creditors know that they can no longer sell further products to you. They really can't justify the cost and time involved in chasing the debt and in my opinion they just want to get the debt off their hands.
Regards
Anyone who has had debts purchased by Max Recovery ought to be very pleased - they are one of the most sympathetic and supportive creditors when it comes to agreeing variations for reduced payments and payment breaks, and as an IP I am very happy to deal with them.
Banking is all about making commercial decisions, and if that is to sell toxic debt so be it. It should really not affect individual people, indeed in many situations I have seen it has actually favoured the debtor to be honest.
I too have debts that have been brought out by Max recovery and Eversheds, they are currently getting 68pence in the pound according to my last annual report, am i to believe this is a good return? I would love it to be 100 but hey ho. I did worry a little when i started getting the letters but reading this gives me a little relief as im now approaching the teens payments left on my IVA and hope that because of the no equity and difficulty in getting a mortgage they will accept the 60 months and not go onto 72, i can hope.
Om shanti, namesté, good luck to all who are embarking on the IVA journey, it isn't always an easy one but the outcome is the best.
IVA COMPLETED August 2012, received Completion certificate 18.4.13.
