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assigned or sold


lordon
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As soon as i think i know what the heck is going on with my debts and gather a plan of action something strikes me ---- WAIT A MINUTE--- I have such a headache over all this crap I"M not sure what do anymore.

anyway i guess my question is oc (discover) told me they still own the debt but zwicker and associates is collecting on thier behalf (outside collections) uh but wait they(discover) charged off my debt so they gave up thier right to collect on this debt right? so would'nt that mean that zwicker would have had to buy the debt? My other discover acct (oc) said is with zwicker as well, but yet got a letter from mann bracken saying they were collecting on the behalf of zwicker so wait -- do you think this is because zwicker have no legal recourse in my state, so they are using mann bracken to do thier dirty work or they assigned this acct to mann bracken so they could file suit in my state?-- because zwicker did not sell it to mann bracken! I did dv mann bracken only about a week ago. They just got the debt 8 days earlier.-- I am wondering if i should offer settlement to zwicker on the acct that mann bracken sent me the letter on because Im afaid mthey hired them to represent them because zwicker cant collect in my state - or should i wait it out because if mann bracken cant verify they will send the account back to zwicker? ahh help I cant make sence of this whole mess. really confused on what to do. ps zwicker and mann bracken are on the bottom feeders list.

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but wait they(discover) charged off my debt so they gave up thier right to collect on this debt right? so would'nt that mean that zwicker would have had to buy the debt?

NO...charge off dooesn't mean squat. Its an accounting term that means "charge against income for tax purposes". Discover still owns it.

The term you're looking for is "write off/sold to another lender"...if that appears on your CRs with a $0 balance...then its sold.

(And, just a suggestion, but if you'd throw in some capital letters, punctuations, and an occasional paragraph so your post is more readable, you might get additional help).

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First- I am totally with you on the headache. Just when I think I have a handle on it and a clear idea on what I'm going to do, I find another bit of info that sends me into a totally new direction!

But... here's what I *think* is going on. Discover can CO the account but still own it. AND still control the collection process. (ie; taking the account back if they want to, negotiating settlement terms and offers, etc.) If they say they still own it, then it's only been assigned to the CAs.

I am wondering if i should offer settlement to zwicker on the acct that mann bracken sent me the letter on because Im afaid mthey hired them to represent them because zwicker cant collect in my state

Let's see how well my studying has been- somebody tell me if my answer is correct... I think you can still try to work with the OC if they still own the debt. Don't offer settlement to the CAs, especially if they're "bottom feeders." DV them, C&D them, and try to work with the OC. (who you should also DV.)

Ok, how'd I do?

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Your problem is that Discover might not talk to you at all while the account is with a CA. When you call Discover they will likely transfer you to the CA. Whenever you call the OC and they tranfer the call, be sure to ask "am I speaking to Discover". When the call is transferred to the CA they often don't identify themselves as the CA.

And when you call Discover and get the automated system, don't input your account number. When you are prompted to input the account number, press zero...or play with the menu until you can get a person on the phone. If you input your account number, your call will likely be transferred to the CA right away or a recorded voice will tell you a number you need to call to reach the CA.

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Yes i have talked to the oc (discover). They said I have to deal with the ca. Any way around this that you know of? Should i send some type of letter to someone specific at discover or email?

That's what I'm trying to do with Discover as well. We are both in the same boat with the same oc and almost for the same amount of $. No info yet, as I'm just starting, but I didn't even think about sending to someone specific- probably a good point. Is the ca NCO?

Renai

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I guess it depends on what you're trying to accomplish...

1. If you've got money to work with and want to get this taken care of, I'd call the OC directly. Say, "I'm sorry, but I don't deal with collection agencies. If you want my money, you'll talk to me directly. If they still push you off to the CA, send them a CMRRR letter stating you're position (for use in court should they decide to sue).

b. If you don't have money, use the DV process on the CA...no phone calls.

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I guess it depends on what you're trying to accomplish...

1. If you've got money to work with and want to get this taken care of, I'd call the OC directly. Say, "I'm sorry, but I don't deal with collection agencies. If you want my money, you'll talk to me directly. If they still push you off to the CA, send them a CMRRR letter stating you're position (for use in court should they decide to sue).

Yeah! I'm doing something right! Thanks for the confirmation, I needed it. If I post the letter I'm sending to Discover, could I get feedback on it?

Renai

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