failed to validate debt

I guess selling the debt to another agency isn't the same as collecting on it, so they are entitled to do so, however since they had done so chances are they do not have access to the proper documentation to validate, nor will any subsequent collectors.

They may be selling the debt off, because you call their bluff and they can't collect on it any longer. This is what is called a junk debt, and there are probably thousands of companies out there dealing in junk debts. They buy up debts for just pennies for each $1,000 owed. They then use all kids of unethical and illegal tactics to pressure people to pay up on these debts. These are often debts that are way outside the statute of limitations, and the original creditor is no longer interested....because they can no longer FORCE you to pay (i.e., they know they can't take it to court and get a judgment). These junk debt buyers will harass the tar out of people, threaten to have them put in jail, etc. to get them to agree to some payment plan. Why? Because that starts the SOL over again, and they can sue! For every one of us here who know or are learning about our rights, there is at least one other out there who has no clue what their rights are, and will pay these people something out of fear! That is how these junk debt buyers stay in business, and they make a killing off of it. If they spend say $200 for a portfolio of debts valued at $2,000,000, and they can get just 10% of those people scared enough to pay, they've made $199,800!!! Not a bad profit, if you ask me. They then sell of the remainder of the debt to another company for say $150.

They get away with this, because, as pointed out in other posts, so few actually sue....or the second you threaten to sue if their harassment doesn't cease, they remove themselves off of your credit report, and sell the debt to someone else. That company then puts their entry on your credit report and starts to harass you, so that you are starting back from square one. Somewhere down the line, one of these junk debt buyers ends up getting lucky, because so many then end up paying or going for a settlement because they are simply tired of fighting the battle of the junk debt buyers!

Sad thing is, there is no limit...at least not that I know of...to how many times a debt can be sold off. I often think some law should be written...kinda like the rules of white elephant gift giving...say after a debt has been bought for a third time, and that company still cannot collect, the debt must be considered dead and cannot be sold again.

I agree with Subigirl, there should be some type of legislation to control how the JDBs operate besides just the fdcpa, or a addendum needs to be added to the FDCPA.