Re: Can anyone explain this?

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Posted by WHY CHAT (209.240.198.61) on February 02, 2003 at 13:19:44:

In Reply to: Can anyone explain this? posted by Christina on February 02, 2003 at 13:07:55:

When an account is sold or assigned all terms and conditions that are part of the account are included.

It is the same if it is sold to another creditor for an account that is current.For instance, when you get a mortgage, and the lender sells the mortgage to another company, you are bound under the same agreements you made with the OC.

The fact that it is a defaulted account that has been sold to a CA does not negate the validity of the transfer of all rights on the original contract agreement.

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