Re: Bad debt purchaser

Posted by BeenThereStillDoingThat (24.187.170.238) on July 26, 2004 at 09:35:23:

In Reply to: Bad debt purchaser posted by charlie on July 26, 2004 at 08:05:23:

If you look at the number of purchased accounts out there and the number of court cases then it is VERY rare that they sue. However people get sued even for the smallest amounts and you cannot predict what a collector will do without more knowledge of that collector. Some of the lowest CA's never sue but scare the life out of you until you either pay them or it destroys you emotionally. Some CA's sue right away but have little or no proof and lose easily in court if you fight them. Of course there are others who know what they are doing and will only sue if they have done their homework and know they can collect. Sometimes "their homework" provided them with bad data and they sue you for the wrong reasons.

Bottom line is you are not likely to be sued BUT do not assume you wont be. Learn as much as possible here and on other forums and know your enemy. Find out all you can about your local courts, the laws of your state and keep an eye on your credit report.

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