Debt purchase
Debt, arrears & collectionsWhen a lender sells a debt to another company.
Overview
The new owner may collect the debt directly.
Your rights and obligations usually stay the same.
Why it matters
- You may deal with a new company.
- It can change how the debt is managed.
- It may affect how settlements are negotiated.
FAQs
Can my debt be sold without my consent?
Yes. Debts can be assigned to another company under the original agreement.
Does a debt purchase affect my credit score?
The debt itself affects your credit, not the sale.
Related terms
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