Charge-off by Original Creditor
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Posted by JerNTN
(24.158.147.91) on May 11, 2004 at 09:18:20:
Once an OC charges off an account, what is the legal standard procedure.....IF the OC assigns the account to a CA and the CA does not/can not collect, does the OC maintain control of the account? Can the CA assign the account to another CA or does it have to go back to the OC before it goes to another CA? Does the debt have to be sold by the OC in order for it to be bounced from CA to CA? Can a CA re-assign the account to another CA if they have not bought the debt?
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