Hi about two years ago I paid a loan off to a debt collector via the credit union, I was informed, t

[Mollster]

So having been informed by the debt collector that my debt was paid in full I rang my credit union to see if I had any shares with them only to be informed that I now owe the CU 1200 interest costs and have no shares. Surely this cant be right?

 

[24601]

You haven't provided clear enough information but it appears that your shares were taken by the credit union at some stage to offset arrears on a loan you defaulted on. Is the debt collector dealing with the credit union debt or other debt? Were you informed in writing that your loan had been cleared? IT's unlikely that they would have executed the share to loan transfer without numerous attempts to get you to engage or without letting you know that were about to do it.