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If an OC sells a debt, can they still try to collect?


shafted
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No. When they sell the debt to a JDB, it is usually for pennies on the dollar. At the same time, they forfeit all rights to the debt. Once the debt is sold, all they are required to do is report to the CRA's that the debt was sold or transferred and the balance owed is Zero.

Once in a great while, a consumer can contact the OC and arrange for them to buy back the debt if you will pay an agreed upon amount, whether the exact amount, or a percentage, of the original, along with any other agreements made. The OC would contact the JDB and claim it was sold in error. It does happen as I was able to accomplish this myself.

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