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Topic starter
22/05/2015 12:01 pm
I received my Form 5 last November (still awaiting form 6) but got a letter this morning from one of my creditors informing me that they had sold my outstanding debt to a Debt Recovery Firm, how can they do this? I am begining to feel that old pressure again,
I thought completing a trust deed would end all this apparently not!
22/05/2015 12:24 pm
Hi ronnie46uk.
Easy for me to say, but don't let this worry you for another second.
It doesn't matter who has sold or purchased whatever. If you don't owe it then you don't owe it.
Companies selling debts do have an obligation to notify you.
Make sure your trustee knows as they may well still need to issue payments to the creditors and therefore will probably need to contact the debt purchaser. This should also mean that they stop contacting you.
Qualified Debt Adviser & Forum Administrator - Ask me anything about Trust Deeds 
Topic starter
22/05/2015 12:34 pm
Thanks for your quick reply I will contact trustee as advised
26/05/2015 10:06 am
Hi ronnie46uk,
Like TDA has advised it's not something for you to worry about. Best to notify your Trustee of this and let them deal with it.
From what I understand when creditors buy and sell debts, they will do this on a large scale, perhaps 10,000 records at a time and generally they aren't fully filtered to take out people in a TD etc. They will need to take the good with the bad and this includes people in a Trust Deed but they won't be aware of this.
Make sure you keep your Form 5 safe as you may receive the odd letter after the Trustee has been discharged about a debt and if you do, you can send the creditor a copy of the Form 5.
David is not currently posting in the Trust-Deed.co.uk forum
