Hi how are debts passed on to a debt collection agency?
How are debts bought
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Debt purchaser - An account would be sold by a creditor to a debt purchase company under an agreement / deed of assignment transferring all rights and obligations to the purchaser for a % of the value of the debt. See law of property act s136 .
Debt collector - the collector would simply be engaged by the creditor to collect the debt on behalf of the creditir
If you give a bit of context on your question it might be a more helpful answer xx#staysafestayhome
Any support I provide is offered without liability, if you are unsure please seek professional legal guidance.
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