So a DCA buys a debt. This will settle the original account and satisfy the original contract. There is now nothing of interest between the bank and myself, no contractual obligations or benefits. End of, thank you very much, its been a pleasure. For the DCA however, this is now a fundamental change of contract when we have a new owner. A contract, for it to be a contract must have equal consideration, both sides perform or provide an equal value. The DCA, what benefit of being in contract with them are they bringing to the table, where is the equality, equal equity an all. Where is the full disclosure. The bank could claim that i owed what i did as they lent it me but the DCA cannot say such things. How much have they paid, what is their liability or exposure? So they are claiming one amount even tho there investment or liability is much much less. The contract they have bought may have potential to recoup a certain amount but that is not its value, its value is the amount the DCA paid for it. A 4 grand contract is now valued at a few pounds.
Posted on: Wed, 16 Oct 2013 19:52:02 +0000
Trending Topics
© 2015