Repayment Assisstance Plan (RAP) Issues

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Buying out a debt?

Printed From: CanadaStudentDebt.ca
Category: Government Program Problems
Forum Name: Repayment Assisstance Plan (RAP) Issues
Forum Description: Rules, regulations and problems (Formerly Interest Relief and Debt Reduction)
URL: https://www.canadastudentdebt.ca/forum_posts.asp?TID=1220
Printed Date: 27/March/2026 at 12:33am
Software Version: Web Wiz Forums 12.07 - https://www.webwizforums.com

Topic: Buying out a debt?

Posted By: yng_mom
Subject: Buying out a debt?
Date Posted: 22/June/2004 at 9:37am

I have a question.
It does sound dumb but someone asked me if it's possible to buy a collections agency debt 'ticket'?

How does this 'changing of files' work when one collection company either tranfers or 'sells' off there files?

Can a collection house include there own interest on-top of the interest being incurred by the debt?

What happens to files when so many hands have handled them?

Replies:

Posted By: whereto?
Date Posted: 22/June/2004 at 10:53pm

Intrest on a collection debt is often in the contract between the lender and the agency. Sometimes it will be specified in a credit contract between the lender and the borrower ahead of time too.