Hannah

Posted by JKelly (151.197.123.138) on July 09, 2004 at 21:00:52:

In Reply to: Re: How do I respond to this one? posted by Hannah on July 09, 2004 at 20:32:20:

If the account is within the SOL it is best to ignore the CA and protect assets, including banking info.

Once the account is charged off and sold or assigned, the OC can't deal with you. They no longer legally have the account. In some cases, they might get the account back, and in that case I would think they can deal with you. I don't think this happens frequently though.

You have inhouse collectors that work for the origianl creditor before the account charges off. After that the account will be assinged or sold to CAs. When a CA can't collect or collects in part, that CA will sell the account again, and the process just continues. By the time you get to the bottom feeders, they are buying the debt for a fraction of a penny on the dollar. Of course, they all add interest, so the balance continues to increase.

Follow Ups:

Post a Followup