Glossary Of Debt Management & Financial Terms
Debt Assigned
The lender has reported that they have sold the debt on to a new company which is not a member of an account sharing scheme. The record will be kept in the original lender's name and show as closed.
Where a debt owed to one company, has been sold by them to another company who are then legally owners of the debt and are able to chase for the full balance. This is always put in writing and the debts are sold at an undisclosed figure.
