Re: charge off.....what is next step

Posted by John (204.216.234.29) on October 08, 2003 at 18:03:04:

In Reply to: charge off.....what is next step posted by james on October 08, 2003 at 14:34:55:

Well James...DMCCB sold the account so you are already heading in the right direction with this charged off debt. This means that they are no longer pursuing you themselves. Now about the matter of living in FL. SInce you have another party chasing you for this debt they retain some of the same rights, but not all. Since the new owner is actually a third party the FDCPA (Fair Debt Collection Practices Act)applies to them. If you send an email to info@usconsumerpros I will be glad to reply with a copy. Also they have to watch out for the FCRA (Fair Credit Reporting Act). The buyer cannot report this as an open account (DMCCB closed it). That means they must adhere to the original statute of limitations or the date of occurence when the debt went bad. Now Florida is a tricky state but that doe not mean that creditors do not have rights. They have a a lot but is is just a lot harder to apply outside influences.

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