Why do letters from Debt Buyers say they're "Assignee"?

[missrebbie]

.

[divemedic]

That is because many people here do not understand what "assign" means.

assign

1) v. to transfer to another person any asset such as real property or a valuable right such as a contract or promissory note. 2) n. the person (assignee) who receives a piece of property by purchase, gift or by will. The word often shows up in contracts and wills.

assignee

n. a person to whom property is transferred by sale or gift, particularly real property.

assignment

n. the act of transferring an interest in property or some right (such as contract benefits) to another. It is used commonly by lawyers, accountants, business people, title companies and others dealing with property.

[missrebbie]

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[divemedic]

There is a certain amount of confusion here. A CA will say they have been assigned to collect, which in this case means that they have been CONTRACTED to collect for the account owner.

If it is the DEBT which has been assigned, then it has been sold or transferred.

[IHateCAs]

Assign has more than one usage.

You can be assigned the rights to collect on the debt, or you can be assigned full title on the debt.

[missrebbie]

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