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By enaid
#191316 Hi,
I have an arrangement that has been agreed to and I have stuck to. Now i have received a letter from a DCA saying they own the debt.
My question is can a debt be sold off with an arrangement to pay on it and does the arrangement then cease?
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By Yogi Bear
#191330
enaid wrote:My question is can a debt be sold off with an arrangement to pay on it and does the arrangement then cease?

Yes, and yes. The simplest thing to do in this situation is probably to offer the new DCA the same payment as you were making previously and the likelihood is that it will be accepted.
By Tomity
#191946 Following on from the OP's original questions.

If there is an agreement in place, set up by Payplan, and then unbeknownst to me the creditor sells on the debt, but the DCA takes a while to get in touch, I assume when Payplan continues to make the monthly payments to the original creditor, that creditor will simply say 'great, what a bonus!' and accepts it without needing or feeling the need to return the payment to Payplan (or forward it to the DCA that bought the debt)?
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By Yogi Bear
#191949 What would happen sooner or later in that situation is that the payment would "bounce" because it was being sent to credit an account that was no longer live on the creditor's systems.