As you may know, I am almost a year into my protected trust deed.
Today I received a letter from Egg, saying they had transferred all of of their obligations to Arrow Global Receivables Management Limited aka Britannica Recoveries aka Britannica-Arrow.
Why have they sold my case to a debt collector, when they have already agreed a Trust deed with my trustee?
What is the point?
Anybody enlighten me about this mob, or what is likely to happen next?
Anybody with any experience of these people?
Hi
Probably just a courtesy call to remind you the bogey man is still around.or the law says they have to tell you.,I wouldn't worry about it as you are in a protected trust deed they cant touch you if you keep to the agreement you have with you r trus tee.
Hi amorphous.
Nothing to worry about.
Arrow Global are a well known debt purchaser.
Egg have decided they'd like some money now rather than waiting for the trust deed dividend. Arrow Global have decided they'll pay some money for the debt now and hope to make a profit from the trust deed dividend.
Arrow Global are probably well aware of the trust deed already. Probably best to send the letter to your Trustee just in case they aren't,
there is no chance that Arrow will attempt to interfere in my TD, and try and increase their dividend from the TD?
I'm petrified of somebody taking a look at my finances and increasing my payments!
ah....it turns out Barclays are buying up Egg accounts from Citigroup.
So thats probably why they have sold off the bad debts now, as part of this deal.
I guess I'll get a plague of letters from Arrow to let me know they have the debts now...but nothing else to worry about[:)]