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Re: Accounts sold to CA's


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Posted by Why Chat (209.240.198.61) on July 12, 2003 at 13:26:09:

In Reply to: Re: Accounts sold to CA's posted by Mike on July 12, 2003 at 10:52:55:


You may believe what you wish to, you may "negotiate" or "settle" in whatever manner you feel is best for your circumstances.

The opinions expressed on this forum should not be considered "legal opinions". If you wish to have a legal opinion on the subject, I suggest you have a lawyer transact whatever "settlement" you contemplate, that way the chances of your getting cheated by and lied to by the CA are somewhat reduced.

This and other credit forums are filled with the stories of people who negotiated in good faith with collection agencies, only to find the settlement agreement acted as a new contract and created a new account with the CA who bought the balance.

The only case law I have seen on the subject was the FDCPA & FCRA and breach of contract suits being LOST by those victims who tried to enforce their settlement agreements.In THOSE cases the Court decided that any resale of the balance was NOT prohibited by the terms of the settlement contract, because it was a "restraint of trade".


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