Attorney re-aged original debt
Date: Tue, 02/13/2007 - 03:29
Have you called your consolidation company and informed the late
Have you called your consolidation company and informed the latest issues?
Yes I notified Consolidation Company. I was told if it was trans
Yes I notified Consolidation Company. I was told if it was transfered or sold..the buyer would not have any previous account payment info from them.
When a junk debt buyer buys a bad debt, they are buying the acco
When a junk debt buyer buys a bad debt, they are buying the account history with it. They bought the original piece of paper that you signed creating the debt, and along with that comes the account ledger that shows all charges/payments ever made. For a debt to be valid, its owner must be able to prove how they derived the balance. The formula is simple: Original Balance PLUS charges/interest MINUS payments/credits EQUALS amount owed. They can't simply make up a number and then sue you for it ... the proof is in the pudding, so to speak; and the pudding is your account history.
You should be able to request ledger detail of your account, showing all payments that you made and all charges. If they haven't given you credit for payments, the problem becomes that you need to prove you made a payment (ie cancelled check, money order receipt, etc.). Since you say the debt consol company made payments for you, you should be able to get a list from them of what checks/amounts they sent on your behalf. Compare your actual payments, to what they've given you credit for; if they haven't posted your payments then you have a valid defense to their claim.
