debt to be outsourced

[brenglee]

just got a call today telling me my debt would be outsourced. can anyone yell me what to expect from the outsourcers?

 

[Branz]

Is this secured, unsecured or what, and in what context is it being outsourced to whom from whom and why?
Are you in arrears, default or what?
Do you live in an apartment or house?

 

[brenglee]

its an unsecured debt of just under 5k. the bank (ptsb) rang and said as I wasn't able to make the agreed repayments they were outsourcing the debt .
I live in my own house that has a mortgage on it with a different bank. They didn't say to whom they are outsourcing the debt to.

 

[Branz]

its an unsecured debt of just under 5k. the bank (ptsb) rang and said as I wasn't able to make the agreed repayments they were outsourcing the debt .
I live in my own house that has a mortgage on it with a different bank. They didn't say to whom they are outsourcing the debt to.

Ok, thanks for that.
The experts on here will be able to add more and how to approach it.

 

[glic83]

Any update on the out sourced debt?

 

[Gerry Canning]

Brenglee;
Ptsb have probably (sold) your k5 to a debt management company.
From your view it changes nothing. They; ie debt comp will now look for repayment.
They can sometimes be a bit aggressive.
That said if you havn,t repayment capacity and can show that you do not have repayment capacity they will be reasonable.
In short pay what you can afford. If you can afford nothing then so be it.
Some people pay very small sums and from my view it just prolongs the issue.
Hope this helps.