J Kelly Posted October 4, 2005 Report Share Posted October 4, 2005 This is just a heads up. I happened on a new credit board "Free Money Training". I can't say that all of their info is bad because obviously I didn't read everything. The following, however, got my attention. What does this do as far as the Fair Debt Collections Practices Act (FDCPA) is concerned? We know that consumers have rights once an account is in the hands of a third party collector under the FDCPA law. Well, if the collection agency has actually PURCHASED the account they are not third party. THEY ARE THE ORIGINAL CREDITOR. We know that Citibank for example can call a delinquent client at any time of the day or night and they can take whatever action they want to collect and the client can't stop the calls because Citibank is not a third party collection agency. They are the original creditor. The same holds true when collection agencies actually purchase the accounts. THIS IS JUST A HEADS UP. OBVIOUSLY INCORRECT INFO. Link to comment Share on other sites More sharing options...
DocPC Posted October 4, 2005 Report Share Posted October 4, 2005 What a crock of ****.... Link to comment Share on other sites More sharing options...
defeatCA Posted October 4, 2005 Report Share Posted October 4, 2005 Total BS... Link to comment Share on other sites More sharing options...
Leadhead Posted October 4, 2005 Report Share Posted October 4, 2005 If a CA, or any entity for that matter, purchases an account prior to it being delinquent, they are considered to be an OC.However, if a CA purchases a delinquent account, they are bound by the FDCPA. Period. Link to comment Share on other sites More sharing options...
LadynRed Posted October 5, 2005 Report Share Posted October 5, 2005 WE all know its a CROCK, but this old BS still persists.what's the URL ?? Link to comment Share on other sites More sharing options...
sifxpert Posted October 5, 2005 Report Share Posted October 5, 2005 A Citi cronie perhpas? Link to comment Share on other sites More sharing options...
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