When a debt is sold to a Debt Collection Agency (via a deed of assignment), does the Debt Collector becomes the Creditor for the purposes of the Consumer Credit Act 1974 and are the rights and duties assigned? Please state court case, legislation in your answer.
2007-03-16 09:38:11 · 4 answers · asked by TOINE B 1 in Business & Finance ➔ Personal Finance
after being a general adviser, on debt amongst other things, i can say that the answer is definatley yes - the debt collection agency who the debt is sold on to then become the creditor.
i cannot supply you with any legal cases on this, but you could try searching this site for relevant legislation http://www.opsi.gov.uk/legislation/about_legislation.htm
2007-03-16 10:06:16 · answer #1 · answered by just trying to make a difference 5 · 0⤊ 0⤋
Sorry, you want that kind of legal information, pay for it. Yes, the purchaser is the creditor.
2007-03-16 16:58:35 · answer #2 · answered by thylawyer 7 · 0⤊ 0⤋
yes, they do become the creditor.
2007-03-16 18:29:37 · answer #3 · answered by Jen G 5 · 0⤊ 0⤋
yes. when you start paying debt collector intrest is stopped.
2007-03-16 16:50:02 · answer #4 · answered by annie 2 · 0⤊ 1⤋