Debtconsolidationcare.com - the USA consumer forum

who owns my acct?

Date: Wed, 10/17/2007 - 22:23

Submitted by anonymous
on Wed, 10/17/2007 - 22:23

Posts: 202330 Credits: [Donate]

Total Replies: 3


I have a credit card in collections. They told me the original collector was the one deciding on settlement amts but when I called the original collector, they told me the agency had 100% control of my acct. I asked if they sold it...they said it was still a valid debt to them, but could not discuss anything with me about it and said I had to go through the agency. He could do nothing at all with the acct. If it's still theirs, how can the not discuss it with me? I told him I wanted to resolve the acct just didn't want to go through that agency...so do they still own it? Did they hire a CA to collect for them or did they sell it off? This is all so confusing for me and I never know what/who to believe and what I am legally able (and what they are legally able) to do/say...I am trying very hard to get my credit in order and want to fix this ASAP...HELP!


Contact the original creditor and ask them to verify if they have retained ownership and the CA is merely managing the account. Also send a debt validation letter to the CA certified mail, return receipt requested. A good debt validation letter can be found here:
http://www.debtconsolidationcare.com/letters/sample6.html

If you have any further questions feel free to ask

Regards
JCEMT


lrhall41

Submitted by JCEMT on Thu, 10/18/2007 - 05:14

( Posts: 2934 | Credits: )


Call the original creditor, you're going to have to go through about 20 minutes on the phone from customer service up through the ranks. However, once you get to a certain point, you should be able to get the 'name of collection agency's' liason or contact within that company. Those are really the only people at the original creditor that have any authority to speak with you. ALWAYS deal with the original creditor's liason, you may be able to work out a better deal with them as they technically call the shots, this is particularly helpful for even charged off debts as they can still be implicated if there is an fdcpa suit filed. These are the same guys who can tell the CA to butt out and accept any number of a range of payment plans. E.G.: if the liason tells the CA to accept a dollar a week payment plan, the CA is bound by law to follow that to the 'T' and take the payment plan as is.


lrhall41

Submitted by on Thu, 10/18/2007 - 20:13

( Posts: | Credits: )