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 Posted: Thu Jan 18, 2007 2:41 pm Subject: Collection agency purchased the debt |
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Is it possible to work with the actual creditor, rather than a collection agency? There's been times because the debt is so old, the original creditor has informed me that the debt has been sold.
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cmiya74
Joined: 18 Jan 2007
Posts: 1
Debtcc Points: 50
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| Posted: Thu Jan 18, 2007 3:05 pm Subject: |
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The creditor won't accept payments from you after selling it to the debt collector. You will have to deal with the CA only because they are now the current creditor. Make them validate before a payment arrangement is done.
How old is the account? Maybe, you should check the SOL period and if it's close to be removed from your credit file as per the FCRA laws.
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BuildingWealth
Debt Samaritan
Joined: 30 Jun 2006
Posts: 500
Debtcc Points: 4962
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| Posted: Thu Jan 18, 2007 4:24 pm Subject: |
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When a debt is sold it means that the company severed all ties with you and will refuse to work with you as they are no longer the creditor of the account.
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FYI
Moderator
Joined: 18 May 2006
Posts: 1762
Debtcc Points: 16507
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| Posted: Fri Jan 19, 2007 8:10 am Subject: |
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I would also check your cr to see what on it.Definitey have any debts that were sold from oc validated.Some of these debts are sold many times. If you pay on any of these you want to make sure your paying the correct company and amounts.
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taksmom476
Joined: 15 Jan 2007
Posts: 80
Debtcc Points: 2028
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| Posted: Sat Jan 20, 2007 10:09 am Subject: |
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If the debt has actually been *sold*, then you'll have to work with whoever is the current owner of the debt. However, whenever anyone tries to tell you that they are the owner of the debt, be sure to ask for proof before proceeding any further. Some CAs have been known to lie about owning a debt. (Among the many other things they're known to lie about.)
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DebtPadawan
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Joined: 10 Dec 2006
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