Re: collection agency purchase of charged off accts

Posted by Why Chat (209.240.222.130) on July 11, 2002 at 10:22:50:

In Reply to: Re: collection agency purchase of charged off accts posted by Kevin on July 11, 2002 at 10:02:56:

IF the account is "assigned" to a ca for collection there is usually a flat rate contract as the "assignment" ca is actually employed by the creditor, even though they are subject to the FDCPA as they are not a part of the regular credit accounting system. If the account is sold to a ca, then it depends on which level of"collectability" your account is at. 1st time sales are generally at 15 to 20% of the account, resales go down to as low as 1 to 2%. Usually,in a case like yours, where there is evidence of ability to pay, as soon as it is assigned after 30 days of no payoff in full, it goes into the legal departmnt for filng a judgment.

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