Re: Question for MCM Bait

Posted by MCM bait (167.127.24.69) on March 10, 2004 at 10:26:02:

In Reply to: Re: Question for MCM Bait posted by julie on March 10, 2004 at 09:59:25:

The interest and late charges added to the account have to be per the agreement you signed with BankOne, including any charges after charge-off. Not only that, but the percentage *could* be limited by state law where you live.

If the account was sold (which you seem to indicate it was not), the bad-debt buyer would have to prove that they are legally entitled to collect the debt, or charge and collect ANYTHING beyond the charge-off date. And there is some question on whether a bad-debt buyer can legally "buy" the right to anything beyond the total amount of indebtedness to the OC, since you were never a "customer" of the CA.

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