Re: Usury & Collection Agencies

Posted by Judgmental (12.228.105.154) on January 17, 2004 at 00:06:38:

In Reply to: Re: A Question of Usury posted by The Truth on January 16, 2004 at 22:07:10:

The question of usury and the question of whether the collection agency has any right to collect the amount owed are separate and distinct.

When you first use the credit card, you agree to the terms and conditions of the account. One of those terms is the right of the credit grantor to assign their rights under the agreement to anyone they choose, whenever they choose. Period.

Anyone who PURCHASES a debt inherits the rights of the original creditor--if the contract written properly.

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