Hello. I'll try to organize this so that the situation makes sense
The first question/situation is in regard to credit card debit I defaulted on in 2016. The original debt company was citibank, but eventually they sold the debt to a Portfolio Recovery Assets (?), LLC. After doing my research I typically send a debt verification letter to the collection agency with legal wording, which at that point they eventually back off and leave me alone until they sell the debt to another company. Based on research I've done and by talking to other people, I was informed that once a debt is sold to a secondary creditor that the debt will not hold up in court because there is not an original contract between myself and the 2nd company. Question #1 Is this true or false?
The 2nd question/situation is in addition to above. ~ PRA, LLC had this Law firm called Blitt and Gaines, PC send me a letter in regard to the debt. I sent my typical Debt Validation letter to this place and received some printed out old statements from Citibank. I have received letters from debt collectors in response to my letter, but usually the 'tone' and the saying, "this is not an attempt to collect a debt." are worded in the letter. In this particular case, the wording did not change and they still used the phrase, "this is an attempt to collect the debt." After doing more research I found they are a legit Law Firm (which I have been contacted by 'fake' law firms in the past which were just collection agencies lying about their credentials). Question #2 Can they actually sue me? or are they all teeth and no bite since the company they represent purchased the debt?
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
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The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.