Proof CA owns debt | DebtConsolidationCare

goldenbast · 2007-12-20T10:20:22-08:00

This is one point that I am not sure how to handle. Exactly how does a CA prove they own the account? Should they have a bill of sale or something? I assume for those CA's who collect for another, they have some kind of letter stating they are collecting. I ask because I have 2 seperate collectors both trying to collect the same dang bill and both say they own it! So far they have not bothered to validate, so it may be a moot point anyhow, but I still wonder about that part of the validation. What does a CA need to have to prove they own a debt?

Ask for a chain of title proving ownership thru bills of sale or

Ask for a chain of title proving ownership thru bills of sale or assignment contracts.

Log in or register to post comments

lrhall41

Submitted by cajunbulldog on Thu, 12/20/2007 - 10:49

( Posts: 4850 | Credits: )

Thanks. If they ever bother to validate, I will do so.:)

Log in or register to post comments

lrhall41

Submitted by goldenbast on Thu, 12/20/2007 - 16:57

( Posts: 2884 | Credits: )

Cajun- does that also include the junk debt buyers who buy the d

Cajun- does that also include the junk debt buyers who buy the debts in "bundles"-if so, I need to add that to my correspondence!..KAren

Log in or register to post comments

lrhall41

Submitted by Bossy4455 on Fri, 12/21/2007 - 08:41

( Posts: 5854 | Credits: )

I have heard of multiple ownership before that comes from Debt b

I have heard of multiple ownership before that comes from Debt being "bundled" and sold and then sold again but the cube guy keeps working not knowing that his project was sold because know one tells him. Validation will prevent that.

Log in or register to post comments

lrhall41

Submitted by Frogpatch on Fri, 12/21/2007 - 08:48

( Posts: 5381 | Credits: )

Jdb's/debt purchaser's still must have a document proving owners

Jdb's/debt purchaser's still must have a document proving ownership or they have no standing in court.

Log in or register to post comments

lrhall41

Submitted by cajunbulldog on Fri, 12/21/2007 - 08:58

( Posts: 4850 | Credits: )

Yes, but I have noticed that even when they do validate (or what

Yes, but I have noticed that even when they do validate (or what they think should pass for validation) it -never- includes anything naming them as either collecting on behalf of the owner, or that they are the owner themselves...they seem to like to forget that bit of info.

Log in or register to post comments

lrhall41

Submitted by goldenbast on Fri, 12/21/2007 - 08:59

( Posts: 2884 | Credits: )

Thanks guys, that's good to know-yea, they never seem to add the

Thanks guys, that's good to know-yea, they never seem to add the bit about them owning it, or proof they do,or bought it!!..KAren

Log in or register to post comments

lrhall41

Submitted by Bossy4455 on Fri, 12/21/2007 - 09:07

( Posts: 5854 | Credits: )

Regarding validation the laws are very vague,but for court owner

Regarding validation the laws are very vague,but for court ownership is a necessary element.

Log in or register to post comments

lrhall41

Submitted by cajunbulldog on Fri, 12/21/2007 - 09:20

( Posts: 4850 | Credits: )

Almost all junk debt is sold in "bundles", the industry uses the

Almost all junk debt is sold in "bundles", the industry uses the fancier term "portfolios". Generally, these only include names, latest contact info, and an amount of the alleged debt. That's why most of these junk debt buyers can never properly validate a debt.