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Re: Is this legal?
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Posted by Christy
(205.188.116.131) on August 07, 2004 at 03:22:24:
In Reply to: Is this legal? posted by Bob3 on August 07, 2004 at 00:23:30:
If there hasn't been a legal challenge, the status, legal or illegal, has not been established. Like with debt buyers and if they have standing to sue debtors for the full value of an account since it was depreciated at the time of sale and the fact that the debtor hasn't signed a contract with the new owner. No one has challenged this in a court of law. I am almost certain that when it is challeged, the court will either declare the original contract void or the value depreciated to the amount it was sold for, therefore that is all that can be collected. It would be the same principle as obtaining a credit card then turning around and selling your right to charge purchases with that card to someone else without notice or consent of the OC. Wouldn't that make credit card companies squeal like a pig caught under a gate? Can't you just see if the new owner of the cc defaulted and the cc called and you told them that you sold the card to someone else so you are no longer responsible for that debt? They would sue you in a heartbeat. Hmmmm, I wonder if a debtor could sue the OC for breach of contract for selling their account without a 30 day written notice and approval of the sale from the debtor.
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