Home
Public Forum
Credit Reports
Apply For Cards
Credit Directory
Credit Overview
Credit Problems
Credit News
International
Credit Glossary
Purchase Books
Credit Laws
Business Credit
Merchant Accts
   

Re: Credit Card Debt - Why Chat?


[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]

Posted by LadynRed (199.91.33.254) on January 21, 2003 at 09:15:54:

In Reply to: Re: Credit Card Debt - Why Chat? posted by Jade on January 21, 2003 at 04:44:12:

In essence, you are correct. If a debt collector has, in fact, purchased and become the owner of the debt, then they can sue. However, the problem lies in determining if has ACTUALLY been sold or not.

I had 2 letters from NCO. Their first one stated they had 'purchased the debt'. Their 2nd letter shows up and says "NCO, ASSIGNEE of XXXXX".. so their first letter was a blatant LIE ! You cannot trust what a CA tells you because they DO lie. Without something showing that they actually purchased the debt, you can't be 100% sure. From what I've read, the larger majority of debts are NOT sold, but assigned, and this seems to hold true 'fresh' debts more than 'old' debts.

Buffy's post says she's dealing with Sherman - they ARE debt buyers, BUT, they also ASSIGN debts they've bought to other CA's. This could be the case with the OSI/Sherman (same company, btw) and this Captial Management CA. I have one that was supposedly sold to Sherman, and I'm being contacted by another CA FOR Sherman ! Its a convoluted twisted web of BS ! Some clues can be found in the letters from whoever's dunning you.

So.. the trick here is to determine if its ACTUALLY been purchased. Even if it has, they really don't want to sue, its expensive, they just want money. Since Buffy's sister's balance is not all that high, its more likely that it won't go to court.


Follow Ups:



Post a Followup

Name:
E-Mail:

Subject:

Comments:

Optional Link URL:
Link Title:


[ Follow Ups ]   [ Post Followup ]   [ Credit Forum Index ]

 

    Top Of Page

  

Copyright © 1999-2002 Enkephalos Web Design