Re: A Question of Usury

Posted by The Truth (216.117.39.203) on January 16, 2004 at 22:07:10:

In Reply to: A Question of Usury posted by attorney2k on January 16, 2004 at 21:38:22:

Once an alleged credit card debt is SOLD to a third party collection agency, the Credit Card Company washes its hands forever of it. Of course they took a profit and loss write off and then SOLD the alleged debt for pennies on the dollar. The question then comes in, "What valuable consideration did the Collection Agency provide to the alleged debtor?" The answer of course is nothing!! They bought an alleged debt for pennies on the dollar and now request full face value!! The question then becomes, "Does the debtor understand that NO CONTRACT exists between themselves and the Collection Agency?"

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