Debt already settled
Date: Wed, 11/22/2006 - 20:37
A collection agency is calling me for a debt that I settled with the original creditor. Is it legal?
Yes, I have documents. I settled the debt @ 50%. Now the collect
Yes, I have documents. I settled the debt @ 50%. Now the collection agency is telling me the forgiven debt has been sold to them. Is it legal? They did not tell me that the rest amount will be sold later on. Please suggest.
I used a settlement company and I got papers from OC as well.
I used a settlement company and I got papers from OC as well.
Forgiven debt
Yes they can, but if you have a signed document settling for the amount you paid, you can't sell the forgiven amount.
You need a letter from the original creditor saying that the acc
You need a letter from the original creditor saying that the account is "Paid as agreed" or "Settled". This document is to be shown to the collection agency and they will have to stop all collection activities afterwards.
