Hello Pioupiou, I note your reference to 6 years. My thought would be that the 6 years starts when the original debt was created by the consumer buying some goods or service from a business organisation. By the time the time a business organisation sells a ledger containing many debts owed to the business, (to CCP, Pioneer etc), it could be that the period of six years from when the debt was contracted, may be reduced to 5 or even 4 years until the statutory period of 6 years expires. The PDL purchased will have a number of debts with different 'statutory' expiry dates. This will impact the Amortisation period. My thought is that by negotiating a loan deal with the debtor, this might extinguish the original debt and roll it into the new loan. This might, start a new fresh 6 year period from the date that CCP makes the new loan to the debtor. Your comments (and others with a legal background in the debt field) would be appreciated. Thanks.
CCP Price at posting:
$21.21 Sentiment: Hold Disclosure: Held
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