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Confused about OC's and JDB's


soccermom
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I'm a little confused about how long an OC has to collect on a debt after selling it to a JDB. If the OC has written off the debt and then sold it to a JDB, can they still collect on it? Is there a SOL for the OC or just the JDB.

I have tried to find this information myself, but can't. Thank you.

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If they sold it they are not going to try to collect HOWEVER dont get confused because many times they DONT sell it but they can have a collection agency to try to collect on their behalf.. so if you get a letter from a CA.. they can be trying to collect on behalf of an OC

Just curious why is the time limit important to you?

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I just didn't know if the OC had an indefinite amount of time to collect and didn't want this coming back on me years later. Also, two CA's have had this debt and neither one has been able to validate. Would this mean that this debt was sold to them and not assigned to them?

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there is no way to know. it should read on the collection notice.. whoever has the debt can come after you until you die except in two states.. their ability to sue however is determined by the SOL of your state...
The SOL does not prohibit them from suing (except in California and Wisconsin). However, if they do sue and the debt is past the SOL you have a very strong defense. But you still have to answer, appear in court, etc.
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The SOL does not prohibit them from suing (except in California and Wisconsin). However, if they do sue and the debt is past the SOL you have a very strong defense. But you still have to answer, appear in court, etc.

should have clarified that (but it was dark thirty in the morning.. lol).. thanks for providing the states I couldnt remember what they were.... but yes they CAN sue but you have an affirmative defense!

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