Need clarification on "Chain of Title"

[Guest helpneed]

I have seen several postings where E. Normis Debtor mention "Chain of Title". I'm still trying to understand this concept. In this thread "http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=261024&highlight=chain" you state "BTW, this is an absolute must to demand during discovery if you're ever sued by a JDB. Without a clear chain of title, they would, in fact, not have standing to sue.

What is not evident on the face of this particular chain, however, is that somewhere along the line, a JDB sold the same account to "2" other JDB's at the same time. With an indepth discovery, you could....well.....discover that"

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For ex, if an alleged charge off account with an OC is assigned to CA #1, DV ltr, the OC assigns to CA #2, DV ltr, the OC sells alleged charge off to JDB. The alleged charge off balance remains the same with the CA #1 and CA#2.

If the JDB provides a Bill of Sale from OC to JDB, how do you make JDB show "Chain of Title" with CA #1 and CA #2? The JDB has increased the alleged balance by 2K. Also the Bill of Sale is signed by the President of the JDB but they put their title as MEMBER vs. PRESIDENT on the Bill of Sale which is strange?

[Optimus_SubPrime]

I think your confusion here stems from the two completely different ways the word "assignment" is used regarding debt collection.

The first way, a creditor can assign a debt to a CA to collect. In that case, the creditor still maintains title to the debt, and the CA is an employee.

The second way, a creditor can sell the title to the debt and all its rights under the law to a JDB third party. In this case, the JDB now has title to the debt, and the creditor has washed his hands of it.

So in your example, the "chain of title" would be the Bill of Sale from the OC to the JDB. The CAs never held title to the debt. Sometimes, one JDB sells to another JDB who sells to another JDB. What Norm means is that you should make sure that any JDB suing you has the Bill of Sale or equivalent document for everyone who has ever purchased this debt. If the JDB has a Bill of Sale from the OC to JDB #1, and another Bill of Sale for JDB #3 to him, he is missing a link in the chain, and has no right to stand in for the creditor in court.

Hope this helps.

[Guest helpneed]

Thanks Optimus!!