Assignor of debt question
Date: Mon, 01/26/2009 - 18:01
Reason I ask is seeing as I am being sued on a debt that is not mine, they claim that the original creditor assigned the debt to them when in fact they purchased the debt from GACC.
What I don't understand is that GACC is licensed to collect debt in my state and they never tried to sue me. Now this new company comes along who is not licensed and sues me. What this tells me is GACC knew it was noncollectable and the company they sold it to is a moron breaking the law because they got suckered.
What would you say to all of this?
I'm no wiz or anything but you should check the sol in your stat
I'm no wiz or anything but you should check the sol in your state. Could be past sol in your state for collecting debt. Sounds like new company is the assignee/owner of the debt now. Probably purchased it for penny's on the dollar. They probably don't even have any documentation from OC about the debt. Make them show you proof that the debt is yours.
No from what they say the SOL has not passed. They say the accou
No from what they say the SOL has not passed. They say the account was charged off in 2005 but the original creditor is not on any of my 3 credit reports which it should be if it was mine.
The only information they have are some fake credit card statements. So I am just wondering if this new company can call themselves the assignor of the OC.
Doesn't matter what they say about SOL, they lie for a living.
Doesn't matter what they say about SOL, they lie for a living. What state do you live in?
ASSIGNOR. One who makes an assignment; one who transfers propert
ASSIGNOR. One who makes an assignment; one who transfers property to another.
2. In general the assignor can limit the operation of his assignment, and impose whatever condition he may think proper, but when he makes a general assignment in trust for the use of his creditors, he can impose no condition whatever which will deprive them of any right;
ASSIGNEE. One to whom an assignment has been made.
2. Assignees are either assignees in fact or assignees in law. An assignee in fact is one to whom an assignment has been made in fact by the party having the right. An assignee in law is one in whom the law vest's the right, as an executor or administrator.
OWNER, property. The owner is he who has dominion of a thing real or personal, corporeal or incorporeal, which he has a right to enjoy and to do with as he pleases, even to spoil or destroy it, as far as the law permits, unless he be prevented by some agreement or covenant which restrains his right.
Also:
OWNER n. one who has legal title or right to something. Contrary to the cynical adage: "Possession is nine-tenths of the law," possession does not necessarily make one a legal owner.
My thoughts are, If the new debt collector purchased the debt, then the new debt collector is the assignee/owner of the debt. The new company can't sue you as the "assignor" because "assignor" has transferred or sold those rights to someone else. Did I explain this right NASCAR Devil?