Can a debt be sold 10 days after Default Notice is issued?

[John217]

Hi Everyone
Please tell me if a debt to a credit card company can be SOLD only 10 days after it is issued? I spoke to National Debtline and they said a debt can be sold any time. Do you know of any case laws re. this?
I would appreciate your help.

[ed.]

Re: Can a debt be sold 10 days after Default Notice is issued?

In reality no.

But as is life, they can ultimately BUT if it is, you can appropriately argue you werent given time to rectify the debt.

Upon being sold in short the new owner should honour the previous timescale of the default notice and give you a period of leeway.

You need to start a thread chap and explain everything.

[Curlyben]

Re: Can a debt be sold 10 days after Default Notice is issued?

A debt can be sold at anytime, with or without a default notice, as it is a thing in action.
This is covered under Law of Property s136.
Look what happens when credit card providers sell their businesses, like GE Money cards being sold to Santandar.