Re: Nat'l check bureau -- you can win!

Posted by Holmes (172.141.39.228) on June 12, 2004 at 11:45:52:

In Reply to: Nat'l check bureau -- you can win! posted by airics on June 12, 2004 at 09:30:14:

Congratulations on your dismissal.

You probably won’t be seeing National Check Bureau in court ever again. Pennies on the dollar debt buyers are hoping for defaults or admitted summary judgments. If you show up and object, they usually go away. When they “buy” these accounts, they enter into “non-recourse agreements.” Essentially, they are buying a pig with no warranty, and all sales are final. The OC doesn’t want to hear back from them asking for “documents.” Heck, if there were documents involved, the accounts would sell for more than a few pennies on the dollar.

When they sell these accounts, they were never envisioned to wind up in court anyway. These are dead accounts. If the OC had the full documentation and a valid claim, they would have sued you. They give a spreadsheet with numbers to these buyers, and tell them to have at it on the phones begging for money. But if it winds up in court, the OC has nothing to give them to back up their claims. Most likely all documentation on that account went into the shredder when the OC sold it off in the first place.

The scam they pull on the courts is as follows. They are the equivalent of somebody buying a house that is completely engulfed in flames. They buy the $100,000 house from the homeowner standing in the street for $2000. Then they have the unmitigated gall to go into court and try to sue the builder of that house for $100,000 because it wasn’t fireproof. If the party that actually suffered the loss walked away for $2000, what gives this debt buying party any right to sue for losses they never incurred? These people are nothing but legally sanctioned extortionists, and I’m sure there are plenty of judges sick and tired of seeing their thieving faces in court trying to shake people down.

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