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Can't be assignee and owner of debt? Did I read that info right.


jangel
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I picked up something from my reading tonight...you can't have bought

the debt and be the assignee..right? Just something I notice on my

paper Midland has a Bill of Sale where they brought this debt from

First North America Bank ..11/03( without representation or warranty of

collectiablity)....on the complaint it states Plaintiff, Assignee of First

North America Bank, files this complaint against defentant.....just

thought that interesting.

jangel

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you can't have bought

the debt and be the assignee..right?

Not right. The parties who sells, gives or assigns the debt is called the assignor. The party who buys or otherwise receives the assignment is called the assignee.

The term assign can have different meanings depending upon the intent of the parties. You sort of need to play detective to be sure.

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Lots of times it is used inartfully. So you have to ask questions: Did they buy it outright? Or was it assigned by FNAB to Midland so Midland could sue you in your state. Does Midland have recourse to FNANB or can it return it if they can't get you to pay. It all comes out in discovery. Make sure you have a lack of standing/legal capacity defense interposed.

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Lots of times it is used inartfully. So you have to ask questions: Did they buy it outright? Or was it assigned by FNAB to Midland so Midland could sue you in your state. Does Midland have recourse to FNANB or can it return it if they can't get you to pay. It all comes out in discovery. Make sure you have a lack of standing/legal capacity defense interposed.

The complaint has an attach "affidavit" that says the account

was FNANB and a BILL OF SALE that states ,FNANB for value recevied --------------does hereby seel, assign, and transfer to

Purchaser, it sucessors, all rights, title and interest in this account ...............without recourse and without representation or warranty of collectibility.

I believe that another JDB had it before Midland (Jefferson City ) as I

saw were they had been checking my cr prior and they backed off on it without trying to sue....and Midland refers to themselves as successor, to the obligation sued for but then on the complaint represent themselves as still connection with FNANB which

sold the debt and charged it off, prior to Midland getting it.

There is such a web woven here that it is hard to know where

the debt really come from as it is not mine and never been listed on

my credit report but they just seem to think they can get some

money out of somebody. Like I stated early we are talking big money

and the are suing in Circuit Court if it ever gets to that ...just pray

it don't. ...they sure can't prove it ...and they sure can't get money I don't have neither.

I really think they have not followed the Federal or State rules and

guidelines on this case ..they are saying the debt was $11,300 but

they are suing for almost $9,000.00 more than original debt which they

most likely got for pennies on a dollar.

Sorry to just go on and on ...one of those things you have never given much thought to till it hits you in the face and then it is all

you can think about, Thanks again.

jangel

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I really think they have not followed the Federal or State rules and

guidelines on this case

If they haven't, it will be up to you to prove it. The judge will not do it for you.

Do some reading on a concept called "chain of title". If the debt belonged to owner "A", "B", "C" and "D", they must be able to prove that A sold to B, B sold to C, C sold to D, and so on. An affidavit from them simply stating that C sold it to D, is no good. Additionally, if they come up with something indicating that A sold to D, you know it's phony. Make them prove everything, and be sure to allege failure to show chain of title in your answer. It can be complicated, but take your time. You can do it.

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