Re: Assigned vs. Sold to CA

Posted by Why Chat (209.240.205.61) on August 12, 2004 at 14:28:53:

In Reply to: Assigned vs. Sold to CA posted by Melissa on August 11, 2004 at 23:58:57:

An account can be "assigned" to a CA for a limited purpose, (collection) and be take back by the OC, or it can be "assigned" with all rights, as in a sale to a debt buyer.

It does not affect the SOL.

In MOST States,on an "assigned for the purpose of collection" account , the CA can not file suit themselves but must turn it back to the OC.

In a FEW States,a CA who is a "debt buyer" is exempted from some of the provisions of that State's collection agency laws, and it's STATE'S laws against unfair debt collection practices.HOWEVER, they are then subject to that State's stricter laws on unfair business practices.

Follow Ups:

•   (0)
•   (0)

Post a Followup