Jump to content

Ever increasing collection balances

Recommended Posts

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

This topic is now closed to further replies.

  • 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.