Can you buy a private debt

[HONESTLY]

My freind has a debt which he cannot afford to collect. Could i collect this for him ? how do i transfer this into my name ?

[nattie]

What do you mean? Can you not lend him the money to enforce it?

[HONESTLY]

No i cant.

[nattie]

you missed the first question.....what do you mean exactly?

[SgtChubbs]

Are you asking if you can purchase a debt owed to your friend, so that you can collect it ?

In a similar vien to a DCA buying a loan from a bank ?

[HONESTLY]

Its bank charges. Rathar than my freind persue them i would do it on his behalf etc.

[SgtChubbs]

An unusual idea

[tifonet]

wouldn't the debt have to be valid and due before it can be assigned, like any other debt?

in this case, how are the charges due to your friend as a debt if the bank disputes they are owed?

[HONESTLY]

Treat it like a bank debt as to many a people are following me about.

[Dragonlady]

You could do it on his behalf if he wrote the bank concerned giving permission for you to act for him.

Are you thinking of becoming a CMC..Now you know the legislation regarding this...