Re: MisInformation !!!!

Posted by JKelly (151.197.123.138) on July 03, 2004 at 20:05:06:

In Reply to: MisInformation !!!! posted by JerNTN on July 03, 2004 at 19:24:24:

Charge is what happens after 180 days (most of the time). After that the Original creditor can either assign the account or sell the account. If the original creditor assigns the account, then the CA gets a percentage of what is collected and the original creditor gets the rest. If he sells the account, he gets nothing. The CA keeps everything he collects. The SOL is the time that anyone can sue to collect on the account. The original can sue (but rarely does) when the account becomes past due. They have that legal right,but as far as I know, seldom exercise it.

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