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  #1  
Old 15-05-2010, 01:09 AM
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HONESTLY HONESTLY is offline
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Default Can you buy a private debt

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 ?
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Old 15-05-2010, 08:40 AM
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What do you mean? Can you not lend him the money to enforce it?
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Old 15-05-2010, 10:04 AM
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No i cant.
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Old 15-05-2010, 02:09 PM
nattie nattie is offline
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you missed the first question.....what do you mean exactly?
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Old 15-05-2010, 03:08 PM
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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 ?
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Old 22-05-2010, 03:53 PM
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Its bank charges. Rathar than my freind persue them i would do it on his behalf etc.
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Old 22-05-2010, 04:42 PM
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An unusual idea
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Old 28-05-2010, 10:12 PM
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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?
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Old 03-08-2010, 02:56 PM
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Treat it like a bank debt as to many a people are following me about.
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Old 05-08-2010, 10:18 AM
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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...
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