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Can you be sued by the original creditor if the debt is now owned by a debt buyer?
Wiki User
∙ 13y ago
No they can not sue you.
Wiki User
∙ 13y ago
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Does the law firm that seeking payment of a debt own the debt that was originally owned by a creditor?
Generally collection law firms or a collection attorney is working for the original creditor or the third party creditor who purchased the debt. It is not possible to say if the firm is working on a percentage basis, contracted or and independent.
What is does it mean for an original creditor to recall their collection?
Recall of a debt by a creditor is when the original creditor asks for the debt to be returned to them after they have sold it, often to a collection agency. This may occur if the debt has not been collected for a certain amount of time, and the debt will be sold to another agency to collect, or if the debtor offers the original creditor a settlement.
Can you pay an original creditor after the debt is sold to a collector?
No, the collection agency is now the rightful owner of the debt in question and the original creditor has removed the account from their books.
You are being sued in small claims court by a third party debt collector can you contact the original creditor and pay them?
No, the original creditor has sold the debt and is no longer involved in the collection process.
Can a debt collection company issue a summons for unpaid unsecured debt?
Yes, once a debt collection agency buys your debt from the original creditor they are legally entitled to all of your debt. Therefore, they can take you to court for any unpaid debts, so long as it is the debt they bought from the original creditor and only that debt.
Can you be sued for a charged off credit debt by the original creditor?
Yes.
How can you verify the date of your last transaction if the original creditor does not appear on your credit report?
If this is going through a collection agency you can tell them what you need to verify it was your debt and they have to get it from the original creditor. They have to get you whatever you need to verify it was your debt.
Is the original creditor required to notify you of debt before using a third party collection agency?
Yes, the original creditor should have notified you that you had an outstanding balance. The creditor also notifies you that they will be submitting your debt to a "third party" collection agency. This is usually the final notice before your debt is sold. If you never received a notice, it is not required that the original creditor send you notice, all it is is common curiosity that they do.
What do you do if the original creditor went bankrupt pulled your file from the collector you were paying and sells it to a debt buyer who demand a large sum of money up front or they will sue you?
I would hire a Bankruptcy attorney asap.
Can a junk debt collection lawyer sue using original creditor as plaintiff?
no
If a 20 something year old dies and has debt under their name is the parent responsible for the debt?
No. The person's estate would be responsible for the debt. The creditor could attach any assets owned by the decedent but if there are no assets the creditor would be out of luck.
Can a debt collector in the state of Michigan collect on a debt if they have already charged it off?
Yes, the term is used to indicate a debt being written off as uncollectible by the original creditor. The debt however remains valid and subject to collection by a collection agency working for the original creditor or a third party that buys the account.
