Jump to content

Successor In Interest--What does this mean?


gabbydeb
 Share

Recommended Posts

Hello eveyrone,

I just found this website and forum and having been reading the content since yesterday. What a valuable resource. I am currently having to deal with a local lawfirm that is also a collection agency as far as I know.

The letter I got from these people the other day, on neon green flyer type paper says starting out in small bold type:

"RE: Ex****** I, LLC, as successor in interest to ******** National Bank".

which of course is the original creditor. Then it goes on to say we need you to contact this office within 48 hours, upon receipt of this letter, to either discuss payment arrangements or settlement. We also need to update your information for our files.

"Legal action is expensive. Please govern yourself accordingly"

In 2001 this bank sent me a credit card, without income verification or my having to sign a credit card application. I am a homemaker, and do not work outside the home. My husband made the payments on the card, but his name was not on the account. We paid off the full balance on the card the first time, and then used it again. As a result of paying off the balance on the card, they let me have a second card without verification of income or signing a credit card app.

My husband was paying on those cards until we ran into some major difficulty. To make a long story short, there has been no activity on those accounts since 2001 or 2002, and I have been pursued by one collection agency after another, to collect on either one or the other account.

The current lawfirm is local. I was wondering if they are trying to collect on behalf of Ex******* I, who is the successor in interest, and what does that term mean?

Umm, am I a good canidate for the debt validation method?

The orginal balances on either card was less than 3,000 dollars if I remember right. Of course now with interest and late fees, probably considerably more.

Regards,

gabbydeb :)

Link to comment
Share on other sites

DocPC.. thank you for your reply. Umm, so by reading my post do you get the idea that the lawfirm is collecting for this other entity called EX******* I ?

Now I would like to deal directly with the bank that issued the credit cards, but it has been so long. I have to be able to pay what I can, and not have them tell me that it isn't acceptable.

I didn't sign for the cards or provide any verification of income, so would doing a debt validation be a consideration for me?

Regards,

gabbydeb

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.