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Almost Statute Barred? Or already so

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  • Almost Statute Barred? Or already so

    Do debt collection agencies ever actually check before they buy a debt whether the account is SB'd? How much research do they put in or do they just chance their luck and hope that Joe Public is thick?

    Do we have someone on the forum who used to work for a DCA who could fill us in on the mind set of these companies.

    After many years of hard work and lean times I am finally getting my house in order but have of late been receiving a few DCA demands for a couple of debts that are already SB'd or almost there. My own thoughts on the subject is that if they could have enforced the account they would have done so long before now.
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  • #2
    Re: Almost Statute Barred? Or already so

    I believe these companies buy up old debts in bulk, hoping to recuperate some of the money back, and show a profit.
    I would bet, that they do not check to see if it's SB, relying on the original debtor to notify them.
    Even then, if people do not know about Statutory Debt, some of them will pay up and be none the wiser.
    “The only man who sticks closer to you in adversity more than a friend, is a creditor.”

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