Debt questions from around the world, helping each other by giving and receiving advice on UK based debt.

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By BigDunc
#171028 Well thats myself nearly finished with Barclaycard/Mercers, still find it starnge how people i owe several times more too accept my pro-rata offers yet they have always steadfastly refused to do so.

Love the letter they sent stating in BIG BOLD LETTERS your debt will now be sold on to a local debt collection agency who 'may' arrive at your door to obtain full repayment!!!!!

At least they will no longer add interest which Barclays have snidely been doing..WHY i ask they will never get it back!!!

Out of interest any idea what these companies pay to buy these debts?? It cant be a great deal surely after all my rating is so bad its through the floor...[/b]
By beatrix
#171727 were are you located? in uk or abroad?
By BigDunc
#171788 Im based in the UK
User avatar
By Gazza1912
#171807
Out of interest any idea what these companies pay to buy these debts??
That is a very good question and one that has been asked numerous times across these Forums. If I have understood it correctly, it could be anywhere between 5% and 15% of the original outstanding amount.
By beatrix
#171838 Wow, they make a pretty good profit!
By biltong boy
#174445 Yes the profits for them are good but I expect they also loose a lot of it.

Best of luck
By Baramot
#174452
BigDunc wrote:Out of interest any idea what these companies pay to buy these debts?? It cant be a great deal surely after all my rating is so bad its through the floor...[/b]


Here is interesting link (I am not sure if I can post it here).Look at the page 22: Consumer Debt Sale in the UK. http://www.r3.org.uk/uploads/documents/spring2006.pdf

The article doesn't answer the question how much DCAs get paid, but examine trends in consumer debt sale in the UK. Maybe it will make an interesting reading for someone... :wink: