Wow, you are very fluent with your words, blah blah blah alot of big words if you ask me. I am not saying there are not scams out there however alot of the real scams are the so-called legit companies, the credit card companies & loan companies who charge huge late fees and increase interests rates, oh by the way they can only stay in business by ripping off the consumer for not paying, they state this in (BIG WORDS) over and over. If a company charges off or writes off a debt, this means they will report it as a loss on their taxes at the end of the year to be compensated, so why do you owe a collection agency who, paid the original credit on top of the write off they will recieve at year end???? Nice try! People be aware on the advice you recieve on both sides of discussion, you may be hearing from a credit card company!

Much information here is based on erroneous assumptions.

Debt is assumed by other parties daily and is a normal business function.

For example, the original purchase made on a credit card is to Sears or Target, Walmart, etc. and then is purchased (assumed) by the credit card company.

Another example is mortgages which are sold to back and forth among mortgage companies, banks, etc. daily and has been done so for years.

Anyone ever see info that any of these examples has been brought up on fraud charges?

If you are not a bank or collections person, who are you? How do you know so much about CMS and why do you take the time to post such a lengthy and comprehensive denial of the proces?

It's a matter of law, folks. Large corporations can't sign a contract - so the cashing of the "consideration" by them is their acceptance under the Uniform Commercial Code. There is an offer to create a BRAND NEW CONTRACT - not a "novation" of the original one. They are asking the bank to drop the old contract in favor of the new one with the new "debtor" - and in accepting it - they are ALSO accepting the assignment of the debt to the new debtor. ALL THEY HAVE TO DO TO NOT AGREE IS SEND THE CHECK BACK. There is NO question of legality here or fraud - it's very simply an offer with consideration attached. Accept the consideration and you are accepting the offer. What it boils down to is that the banks are too lazy or not caring enough to alter their business practices to accommodate refusing a commercial offer. Bad business practice is NOT a legal defense - and it is about the only one they have.

Law West of the Pecos
Judge Roy Bean



Of the many colorful characters who have become legends of the Old West. "Hanging Judge Roy Bean," who held court sessions in his saloon along the Rio Grande River in a desolate stretch of the Chihuahuan Desert of West Texas, remains one of the more fascinating.
According to the myth, Roy Bean named his saloon and town after the love of his life, Lily Langtry, a British actress he'd never met. Calling himself the "Law West of the Pecos," he is reputed to have kept a pet bear in his courtroom and sentenced dozens to the gallows, saying "Hang 'em first, try 'em later." Like most such legends, separating fact from fiction is not always so easy.

Just in case anyone thinks that POSER is a real judge!!

i think that's enough.