MMG Holdings, LLC.
Date: Fri, 10/22/2010 - 13:46
If MMG isn't licensed in my state, then do I have to pay this 3rd party collector this amount?!??
Here is part of what they e-mailed me:
***Hoffman Swartz and Associates has made the decision to file a lawsuit against you regarding and outstanding check drawn off of your Bank One account ending in xxx0565. We have agreed however, to accept two (2) installments one of $150.00 and final payment of $250.00 as payment in full.
I wouldn't pay a 3rd party collector any more then what was due
I wouldn't pay a 3rd party collector any more then what was due on the loan when it left the hands of the original creditor.
Under Section 808 Unfair Practices of the Fair Debt Collection Practices Act under the Consumer Credit Protection Act, federal law prohibits a debt collector from collecting any amount (including any interest, fees, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law.
If a debt collection agency owns your account, and you did not expressly enter an agreement to pay interest and fees to that collection agency, than they cannot charge you anymore than what the already existing balance is.
Quote:Originally Posted by ShazzersI wouldn't pay a 3rd party co
Quote:
Originally Posted by Shazzers I wouldn't pay a 3rd party collector any more then what was due on the loan when it left the hands of the original creditor. Under Section 808 Unfair Practices of the Fair Debt Collection Practices Act under the Consumer Credit Protection Act, federal law prohibits a debt collector from collecting any amount (including any interest, fees, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law. If a debt collection agency owns your account, and you did not expressly enter an agreement to pay interest and fees to that collection agency, than they cannot charge you anymore than what the already existing balance is. |
Great respnose Shazzers!
Thbka you for the advice. I'm going to reserach them a l;ittle more and send them the response you sent me and see what they have to say. This forum has been much more helpful than you guys know. Once these companies see that you are not a 'rookie' them they act and totally diferently!
Thanks again!
Quote:Originally Posted by ShazzersI wouldn't pay a 3rd party co
Quote:
Originally Posted by Shazzers I wouldn't pay a 3rd party collector any more then what was due on the loan when it left the hands of the original creditor. Under Section 808 Unfair Practices of the Fair Debt Collection Practices Act under the Consumer Credit Protection Act, federal law prohibits a debt collector from collecting any amount (including any interest, fees, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law. If a debt collection agency owns your account, and you did not expressly enter an agreement to pay interest and fees to that collection agency, than they cannot charge you anymore than what the already existing balance is. |
(Revised sent, sorry for all of those typos...lol!)
Great response Shazzers!
Thank you for the advice. I'm going to reserach them a little more and send them the response you sent me and see what they have to say. This forum has been more helpful than you guys know. Once these companies see that you are not a 'rookie' with the laws surrondong them, they act and respond to you totally differently!
Thanks again!
Quote:Originally Posted by ShazzersI wouldn't pay a 3rd party co
Quote:
Originally Posted by Shazzers I wouldn't pay a 3rd party collector any more then what was due on the loan when it left the hands of the original creditor. Under Section 808 Unfair Practices of the Fair Debt Collection Practices Act under the Consumer Credit Protection Act, federal law prohibits a debt collector from collecting any amount (including any interest, fees, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law. If a debt collection agency owns your account, and you did not expressly enter an agreement to pay interest and fees to that collection agency, than they cannot charge you anymore than what the already existing balance is. |
Shazzers,
I do have one more question. In your answer paragraph #2 you state, "If a debt collection agency owns your account, and you did not expressly enter an agreement to pay interest and fees to that collection agency, than they cannot charge you anymore than what the already existing balance is" Hre is the probalem, eventhough I never signed anything, I initially told them over the phone that I would do these payments. Isn't that considered a verbal contract (which they recorded) can they hold me to it even if it violates the Fair Debt Collection Practices Act? I hope I didn't mess up by agreeing to this, eventhough now I see it's incorrect on their behalf.
Please advise....
Dre Day