The Gooner Forum

just a quick one...
can loan companies sell your loan on even though you have never missed a payment?

cheers.

me thinks ya gonna get a "VISIT" from "THE BOYS"

Yes they can. They don't necessarily sell loans based on whether you default or not.

Their business model may no longer be sustainable (how topical!) so they may want to get as much cash as possible now (to service their own debt) and sacrifice receiving the full amount from its debtors in the future.

cheers. mate thought i might of got lucky then

Sorry mate. All this means is that you owe the debt to the new creditor i.e. the company that bought the loan off the people who gave you the loan in the first place. You're still in debt and must continue to make the payments!

shouldnt of i had some sort of letter informing me of this? surely theyhave to let me know if im gonna have some *word censored* knock on my mums door and tell her i have a week to come up with tripple the amount i originally borrowed lol

ok nevermind, just checked the details from my bank statement and the account number that i started the account with got changed so thats why the old account was stated as settled.

damn thought i got lucky