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Bankruptcy Transfer Question


beatboy77
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I have a question for all of you. I was discharged from a Chapter 7 BK in December of 2003. One of the account listed was with Homecomings Financial (Second Mortgage). This account currently shows as, "IIB with $0.00 balance due and $0.00 past due," as it should. Today I received a letter from Homecomings Fiancial stating that Effective May 26, 2004 the servicing of this mortgage loan is being assigned, sold or transferred to Challenge Financial Services, LLC. My questions are:

1. Why would a company like Challenge Financial purchase an account which has been discharged from a Chapter 7 BK?

2. Will Challenge Financial have the right to do a hard inquiry and to place a new trade line on my credit report since this is discharged?

Any opinions would be greatly appreciated!!

Thanks,

Josh

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I suggest you call up Challenge and tell them that your account was discharged in BK and that they should not waste their money trying to buy it. Let them know that they are being defrauded by the original lender.

No they cannot do an inquiry. Although they may be able to claim a bona-fide error because they are being deceived by the original lender, and thereby escape liability.

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