Re: Bad debt purchaser

Posted by Christy (64.12.116.84) on July 27, 2004 at 09:42:49:

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

You wanted to know, "Since they are not the original creditor do they still have the right to sue for over 12,000? Is it common or rare for a debt purchaser to sue in court?"

The thing I noticed about the complaint Midland Credit Management filed against me is the amount they filed for was a lot less than the last amount they had asked for. Since it was not our debt, we refused to pay anything and so they filed their complaint anyway. As far as CAN they sue for more than the OC charged off, probably, but depending on your state and what the statute says about the interest rate, they won't file for as much as what they will ask for from you before they file. When they file a complaint, they will usually file as an ASSIGNEE instead of the owner of the debt, but will attach a affidavit stating they own the debt and the date and how much was owed when they bought it from the OC. These are some of the things I noticed with my own case, so take it for what it is worth. Each state has it's own laws and your state's laws will determine what happens if they file suit against you. Good Luck!

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