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Re: Selling of charged-off account
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Posted by Why Chat (209.240.222.130) on July 06, 2002 at 18:36:43:
In Reply to: Selling of charged-off account posted by melsp on July 06, 2002 at 18:11:46:
The collection agency probably purchased the account from whomever Sears had assigned it to for collections. That means Sears no longer owns the account for you to pay them back.
You should write to the collection agency requesting validation of their right to collect on this account, they need to prove ;
1- That they are licensed as a collection agency in Michigan.
2- That the account with full documentation was assigned or sold to them.
3- That they have proof it is your account, with a copy of your signed application.
If you need some sample letters,scroll back and look under "General Information For Newcomers".
MICHIGAN
COLLECTION AGENCY BOND & LICENSE (RETAIL ONLY)
Bond: $5,000 - $50,000
License: Yes
Fee:
$150 - Investigation
$225 - Initial
$125 - Annually
Exemption for out-of-state collectors: Out-of-state collector are exempt if [1] collecting by interstate means; and [2] have no clients in the state of Michigan.
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