secondchances Posted March 11, 2007 Report Share Posted March 11, 2007 How can a JDB buy a debt for less than the amount due and legally charge interest and increase that balance monthly without providing you any kind of statement? Link to comment Share on other sites More sharing options...
nascar Posted March 11, 2007 Report Share Posted March 11, 2007 Because they can get away with it. Link to comment Share on other sites More sharing options...
LadynRed Posted March 12, 2007 Report Share Posted March 12, 2007 That and...because your original cardholder agreement SAYS they can. In all CC agreements, there is a section that deals with defaults and includes verbiage that refers to 'all successors and assigns' - it basically 'transfers' ALL original creditors rights to add interest and collect to whoever is assigned the debt for collection or whoever buys it. Stinks.. but it's legal. Link to comment Share on other sites More sharing options...
Tazjeepcj7 Posted March 13, 2007 Report Share Posted March 13, 2007 ...but those same credit card agreements are usually explicit about items such as monthly statements...can the original creditor assign its rights and not its responsibilities... Link to comment Share on other sites More sharing options...
thomassl Posted March 13, 2007 Report Share Posted March 13, 2007 I agree with LadyNRed! Link to comment Share on other sites More sharing options...
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