Jump to content

Can some please explain chain of custody


Guest FloridaDebtor
 Share

Recommended Posts

Guest FloridaDebtor

as far as when a OC sells the acct to a CA after charge-off and then it gets sold over and sold.....

how does this have to be proved in court with evidence that they have the right to sue a debt ower. do the records need to be notarized, do they need to show actual amounts, do they require signatures, what is required to make them real. anybody can generate a printout. but i would think it would be heresay since they have no personal knowledge of it and they were not the ones entered into the contract originally...the terms say assignee but must it be proven in a certain way. this would prevent a CA who doesnt have authority to sue from collecting. they must show that they have actual custody of said debt....right?

please, some one explain as much detail as possible on this matter with statutes if any...thx

also if possible...the amount entitled to...the charge off, the write-off or some other amount.

Link to comment
Share on other sites

I'll jump in,until some of the more lawyer-ese folks show up.

The FDCPA (see the link at the top of the page) basically says that any validation of a debt MUST come from the original creditor...not from the JDB the current JDB bought it from, but the original creditor. Therefore, under the FDCPA, if the JDB can't get that info, the debt doesn't exist. However, you may have trouble getting that across to a small claims court judge.

Link to comment
Share on other sites

Go read the Debt Purchasing Forums at CI.com and over on http://www.pcmholdings.com/Forum/. Do a search on Chain of Title etc., read everything you can and digest all the different threads on Chain of Title. You find the purchasers or JDB's as we like to refer to...have to have a clear chain from the OC right down to their Agencies. You'll also find that most purchases are done without the Original Documents and alleged accounts are sold via a Portfolio and all that is in a Portfolio is a ledger of Names, SSN's, Addresses and Phone Numbers and very miniscule account data. The purchasers have to pay a lot more money if they want the actual original documents from the OC. If your a good Pro Se, or you have a good Attorney Discovery of the Chain of Title and the Original Documents should be the first thing on your agenda. Anything short of that will become Hearsay evidence and Hearsay testimony. What most of these Debt Purchasing Companies have done is just buy Evidence of Debt. I demand all that good stuff in everyone of my Validation Request to the JDB right off the bat. I have yet to get anything back from any of them. The only thing that I've gotten from any of them is Silence. I've been doing it for over 5 years.

Link to comment
Share on other sites

And last but IMHO not least is the Dictionary Definitions of their Chain of Title:

TITLE:

a. The coincidence of all the elements that constitute the fullest legal right to control and dispose of property or a claim.

b. The aggregate evidence that gives rise to a legal right of possession or control.

c. The instrument, such as a deed, that constitutes this evidence.

8.

a. Something that provides a basis for or justifies a claim.

b. A legitimate or alleged right. See Synonyms at claim.

CLAIM:

1. A demand for something as rightful or due.

2. A basis for demanding something; a title or right.

3. Something claimed in a formal or legal manner, especially a tract of public land staked out by a miner or homesteader.

4.

a. A demand for payment in accordance with an insurance policy or other formal arrangement.

b. The sum of money demanded.

5. A statement of something as a fact; an assertion of truth:

lay claim to

To assert one's right to or ownership of.

So how can they demand anything in the way of money without providing the proof of claim in the validation process.

Link to comment
Share on other sites

Thanks to all who have provided info on this so far.

I have read it all and checked out all the links. We have one with Unifuct right now that has changed hands I think about 5 times best I can tell and is out of SOL, but Unifuct has reaged it. OC is no longer even in business.

So, again, this info is very helpful, thanks to all!!!:D

Link to comment
Share on other sites

Guest FloridaDebtor

my guess is that they wont be able to provide the courts with anything other than heresay and have no personal knowledge of the debt thus you could argue that they are not entitled to the claim based on them not being able to prove rightful owner to the debt and the amount they are asking...

this seems to be the norm withthese JDBs. if they are going to sue ppl, they should have more proof but i guess that is one of the reasons they buy these in groups for pennies to the dollar.

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.