Nothing changes, you are still protected.....

All that really happens is that whatever dividend there is at the end of your trust deed will go to them instead of Barclays, they did the same thing with me.....

Just advise them you are in a PTD and also let your Trustee know........

Yup,it matters not who buys your debt,its been included in your PTD so dont worry about it. You may find by the end of the deed the debt has transferred again.

Paul

Hi Alphab

Its fairly common for debts to be sold on, but as stated, it makes no difference to you as you are still protected. Max Recovery and Lowell are the 2 main ones.

Best advise your trustee and let them deal with it.

Mark

Thanks guys for putting my mind to rest, I thought that once it was protected that was it after the initial phone calls and letters had died down. Didn't think they would sell off the debt and chop and change like that.

Not that I have much sympathy for the debt collection agencies with some of the tactics they use but it does seem unfair that barclaycard can sell on my debt knowing that I'm in a PTD without notifying the collection agency. Guess its just my simplistic view on things lol.

I would suspect the debt agency are fully aware that you are in a PTD, they were hopefully trying to catch you off guard and get money off you directly. They are simply chancers.....

Hi AlphaB.

The fact that you're in a protected trust deed would normally be communicated to a debt purchaser. Some of them are still happy to buy the debt.

Many people will find that by the time of their discharge much of their initial debt has been sold on.

It doesn't make any difference to you though so long as you meet the trust deed requirements you signed up to.

quote:

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Originally posted by Porcupine

I would suspect the debt agency are fully aware that you are in a PTD, they were hopefully trying to catch you off guard and get money off you directly. They are simply chancers.....

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Would this be legal for them to do that?

Hi there.

Porcupine might be right, but I think it's more likely that there has been an oversight somewhere.

They will try anything to get money from you.

Paul

Debts are bought in bulk by debt collection agencies from lenders. I wouldn't be surprised if the debt collection agencies are unaware of the situation in respect of each individual debt in the list they are buying and therefore only find out about the trust deed once they contact you.

They may well have an agreement with the banks they are buying from that it is ok for the banks to include debts subject to trust deeds etc in with the list of other debts they are selling on as at least they know there is a good chance they will get a dividend at some point which may well be more than what they have paid for the debt.

I know this is a big, and growing, industry. Just wondering why these companies are able to be given personal information when every other function in life is hamstrung by adhering to the data protection act. I have returned correspondence from debt buying companies, asserting that I have never entered into any agreement or borrowed anything from them and until they can prove otherwise, asked them to advise the original party to the agreement that I will only deal with them.

Pamjo.....

If you look at the small print in most credit agreements they will have a very small clause advising they may pass out your personal details to a third party.....

I think the right to sell on a debt will exist in almost every credit agreement each of us chooses to enter.