what is rightfully due?

[smhaines65]

i have a question, i have read on a couple of forums and websites that if a CA buys your debt for pennies on the dollar, legally they only have the right to collect on what they paid for, i mean

orriginal debt: 500 dollars

CA bought it for: 150 dollars

can they legally still collect on the 500 dollars

and if not what law states this

i only ask because i seen a few people DV letters and it says that they need to provide the debitor how much they purchaced the debt for

[nascar]

original debt: 500 dollars

CA bought it for: 150 dollars

$150.00 is way too high; more like $10 or $15.

can they legally still collect on the 500 dollars

Yes, it doesn't matter what they paid for it.

[smhaines65]

$150.00 is way too high; more like $10 or $15.

Yes, it doesn't matter what they paid for it.

then why does it matter how much the CA bought it for?

like i have seen in other peoples DV letters

[nascar]

The letters you see that on aren't ones you want to use. It's based on the misguided premise that unjust enrichment is a defense to against a JDB's lawsuit.

[breathing_easier]

i have a question, i have read on a couple of forums and websites that if a CA buys your debt for pennies on the dollar, legally they only have the right to collect on what they paid for

If this were true then there would be no junk debt buying CAs as there would be no profit in buying debts. We all know they are definitely not non-profit organizations. If you buy something at a garage sale for 25 cents and sell it on eBay for $100, it isn't unlawful for you to keep the $99.75 profit. However, knowing what a JDB/CA paid for a debt helps during the settlement negotiation process if you are wanting to settle.