questions on assigned vs sold accounts

Posted by catballou (4.14.160.44) on May 19, 2004 at 14:27:12:

a couple questions for anyone..thanks in advance.

assigned accounts must be sued by the OC, right? ie..if a account is only assigned..the OC is the only one who can initiate a suit?

assigned accounts keep the interest rate as per the original contract.... how do they have a contract (if bought) if we dont agree to it? when its bought, does ALL the original ummmmm...things apply? interest rate...etc.

i guess i dont understand the thing. i know its a "debt", bought cheaply, but exactly what did they buy, besides the amount of the debt? the whole contract? if so, doesnt that require both parties agreement? if i sound stupid, please pardon me. and thanks for any replies in advance:)

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