Do I have to pay a collector that buys bad debt?
Date: Sun, 02/04/2007 - 13:04
You: "It is my policy to never deal with debt collectors who are not representing the creditor. Give me your address so that I may send you a cease and desist letter in accordance with the fdcpa."
Does this mean that if a collector buys your bad debt, you do not have to pay them?
Welcome to the Community :D No, it does not mean you don't owe
Welcome to the Community :D No, it does not mean you don't owe the debt just because it was sold. The problem is, Some collection agencies buy these bad debts in bundles. Alot are out of the SOL period,some are not licensed to collect,etc. Before you make any payment to a collector, send them a debt validation letter, certified,return receipt. If your debt hasn't been sold, and the original creditor still has your info, you can contact them and work something out. Also, just because something is out of the SOL, doesn't mean they still won't try to collect. Let us know what happens,good Luck..Karen
Thanks for all the info, I have another question. I had an arbi
Thanks for all the info, I have another question. I had an arbitration entered against me without my knowledge. I was notified AFTER the fact with a letter stating that I had entered into a binding agreement with Asset Acceptance. What can I do? I have heard that this is illegal, however I cannot afford an attorney.
P.S. I did post the last one, I kept getting an error that I was permenantly banned from the forum and I couldn't understand why? Possibly due to the fact that I haven't been here in a long time? I thought the message never went through, so I tried it with and alternate email address. Thanks for all your help!
I have mail, but no answer to the question? Oh, I checked my in
I have mail, but no answer to the question? Oh, I checked my inbox on yahoo! Sorry! I got your message, thanks for all the info!
And surprise surprise, the arbitration letter is from the Nation
And surprise surprise, the arbitration letter is from the National Arbitration forum. I cannot believe how COOKED this TURKEY is. I am so screwed. I wish you had given me this information before hand. :(
now your next step is......follow the lead you were given, okie
now your next step is......follow the lead you were given, okie dokie?
;)
*chuckle*
usvaldo21,karen and texas is really a excelent information her
usvaldo21,karen and texas is really a excelent
information here. another question:
some debt collectors wants a fee for their services
and i think this is illegal.i think some debt collectors are charging people fees for their services.ltd 77074 told my husband a fee
was a 1000,00.NCO,ACADEMY,PORTOFOLIO RECOVERY WANTS
FEE.what to do?
Re: collection agency service fees. (Hah. "Service fees". The
Re: collection agency service fees. (Hah. "Service fees". The irony is so thick you could cut it with a knife. "Hey, I've got an idea... how about you stop providing me with the so-called 'service', then we can forget about the fee." Anyway.)
According to the FDCPA:
In practice, this type of "fee" is almost never legal, and if you're dealing with NCO -- which is among the sleazier collection agencies out there -- you can be just about certain that they're breaking the law. Send them a letter, certified mail, return receipt requested, demanding (not requesting) that they demonstrate what authorizes them to charge the fee. Be sure to let us know what response, if any, you get from them, and we'll spitball it around the room some more.