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Nat West sold 'settled' loan to CCS


sprockett
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Hi, my credit file is showing a loan with nat west as settled in 2009. However, I am being sent threatening letters by CCS who claim to have bought the loan. I thought that if the loan was showing 'settled' then that was it and it couldn't be sold on. I have moved house since and afraid I don't have any paperwork from Nat West to prove it, just what it says on my credit files. Any advise would be appreciated. Thanks

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Creditors normally mark the debt as settled when the new owner buys it. This is because they paid a few pounds for the debt, so the creditor marked the entry as such. It then becomes property of the new owner and they can chase you for it, PROVIDING they have the correct paperwork to do so.

Any advice i give is my own and is based solely on personal experience. If in any doubt about a situation , please contact a certified legal representative or debt counsellor..

 

 

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