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Originally Posted by Tomkat
I think people are repeating what's already been said though - that the debt would merely be transferred to another company who'd take over (your house wouldn't be repossessed or anything).
The dicussion had moved onto whether the contract remained the same (same remaining number of payments, same cost for each payment) or if a new one had to be written up (perhaps with more favourable terms).
Although it seems from what you've said, that the contract remains the same (and that nod was correct). I assumed a new one would be written up for the new company.
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Correct, new company. Details remain the same