Waffles
Date: Sun, 09/09/2012 - 19:08
In a separate thread you said that Cash Call is not bound by the FDCPA because they are the creditor on my Western Sky loan. I want to verify this again with you as my understanding was that WS sold the loan to CC, who is now servicing the loan? Doesn't this make CC a third party collector on this loan, and bound by FDCPA?
I have been talking with CC...and want to be sure I handling it correctly.
I appreciate your expertise!
Thanks
We should wait for soaplady on this as she is an expert with col
We should wait for soaplady on this as she is an expert with collections (she used to collect student loans) but I do not believe they are bound by the FDCPA's statutes with regards to debt collectors. If a CA buys your debt they are not servicing the loan, they are collecting on the balnace. In this case cashcall is servicing the loan and therefore they are your creditor.
The FCRA however does apply, specifically with regard to them reporting illegal debt (western sky loans) to the bureaus.
Correct...Cashcall would be a servicer, not a collector. The FD
Correct...Cashcall would be a servicer, not a collector. The FDCPA would not apply unless you lived in CA or TX, whose state laws mimic the FDCPA and also apply to the creditor.
sorry...
I'm still dealing with cash call too... so this means what? What applies and what doesn't apply? I got the loan through Western Sky...
