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Posted: Wed Oct 31, 2012 5:56 pm
by moshi1
Hi a quick question . Is legal for my iva company to be able to buy any of my debts from original creditors ???
Posted: Wed Oct 31, 2012 6:00 pm
by lem
IVA companies don't buy debts, that's not within their remit
Posted: Wed Oct 31, 2012 6:05 pm
by moshi1
Thats what i thought . Ty for reply
Posted: Wed Oct 31, 2012 6:12 pm
by Niobe
GT do own debts as well as being an IP company as they will frequently vote in their own clients IVA applications.
Posted: Wed Oct 31, 2012 6:16 pm
by moshi1
Ty niobe guess thats what my iva company do too .
Posted: Wed Oct 31, 2012 7:21 pm
by Foggy
GT is a large company with many facets, which all operate independantly. They represent creditors as well as debtors, they also operate their own debt collection services, as well as accountancy.
There are chinese walls between these different businesses and no conflict of interest, being very heavily regulated.
Posted: Wed Oct 31, 2012 7:47 pm
by moshi1
Thanks all its amazing what you learn from this place ..
Posted: Thu Nov 01, 2012 11:56 pm
by MelanieGiles
GT don't buy the debts - they merely act as collection agents for some of the creditors.
Posted: Fri Nov 02, 2012 7:56 am
by Niobe
Sorry Mel, I thought they owned the debts as well.