gordonfan Posted April 13, 2008 Report Posted April 13, 2008 My original creditor (HSBC) shows up on my credit report as charged off account. Under activity it says tranfer/sold.Does this mean that the CA can't collect, or does it better my chances of getting out of paying the debt?
Amerikaner83 Posted April 13, 2008 Report Posted April 13, 2008 nope.Transferred/sold just means that a CA has the debt. The OC transferred the debt to the CA or sold it to a JDB who now owns it. This JDB would then stick a CA on your account. Expect a CA to dun you soon - which you should immediately DV!
willingtocope Posted April 13, 2008 Report Posted April 13, 2008 Sematics police here...CAs don't buy debts. Junk debt buyers buy debts. JDBs hire CAs to hassle you (just like OCs hire CAs).One of the reasons its important to keep the players straight is that only the "owner" of the debt can actually sue you.Regardless, when the next CA contacts you...DV them.
Amerikaner83 Posted April 13, 2008 Report Posted April 13, 2008 yessir, Officer Semantic. Post has been edited accordingly.
willingtocope Posted April 13, 2008 Report Posted April 13, 2008 Alrighty then, I'll let you off with a warning this time...Would you like to buy two tickets to the gramatician's ball? I can gurantee there won't be any of the special spelling agents there...
Amerikaner83 Posted April 13, 2008 Report Posted April 13, 2008 no thx im @ the "no im-speak" con. nxt wk, sry
gordonfan Posted April 13, 2008 Author Report Posted April 13, 2008 I probably should have given more info about this. Here's the deal:HSBC financed truck for us. We voluntarily repo'd it and they sold it and the balance between what it was sold for and what we owed was $12K.HSBC shows on my credit report as "charged off account" (I just found this out today).Now AIS Services in Calif. has been calling me for several months. I paid them a total of $335 towards this $12K. This was way before I found this site or even knew what a DV was. They scared me to death by saying they would garnish our wages to get the money . . .that's the only reason I sent the money.Come to find out (thanks to this awesome site) they cannot garnish my wages in NC.Sooo, here are my questions:1. Do I really owe AIS Services the $?2. Can AIS sue me?3. Do I bother to DV them now? Up to this point they have flat out refused to send me ANYTHING in writing. They claim they sent 5 letters to me but I did NOT get them. They said someone was stealing my mail 4. What would you guys do next if in my shoes?5. How do I find out if AIS Services is a junk debtor?
willingtocope Posted April 13, 2008 Report Posted April 13, 2008 1. Do I really owe AIS Services the $?2. Can AIS sue me?3. Do I bother to DV them now? Up to this point they have flat out refused to send me ANYTHING in writing. They claim they sent 5 letters to me but I did NOT get them. They said someone was stealing my mail 4. What would you guys do next if in my shoes?5. How do I find out if AIS Services is a junk debtor?1. Probably not. There are specific UCC rules regarding repos. Most JDB's don't bother to follow them.2. Yes, they can sue...will they win? Don't know. Depends on how you respond.3. Send them a DV now. CMRRR. Tell them you want proof they have the right person, the right account, the right amount, and the right to collect in your state. They may not respond, but if they do sue, you'll at least be able to show that you asked. And...stop paying them until either 2 or 3 happens.4. Me, personally? I would never willing pay money to a JDB. I'd force them to take me to court and prove they had the right to collect.5. Does the OC's TL also say $0 balance. If so, its been sold. The question is...to who, and for how much?
gordonfan Posted April 13, 2008 Author Report Posted April 13, 2008 1. Probably not. There are specific UCC rules regarding repos. Most JDB's don't bother to follow them.2. Yes, they can sue...will they win? Don't know. Depends on how you respond.3. Send them a DV now. CMRRR. Tell them you want proof they have the right person, the right account, the right amount, and the right to collect in your state. They may not respond, but if they do sue, you'll at least be able to show that you asked. And...stop paying them until either 2 or 3 happens.4. Me, personally? I would never willing pay money to a JDB. I'd force them to take me to court and prove they had the right to collect.5. Does the OC's TL also say $0 balance. If so, its been sold. The question is...to who, and for how much?Thanks for the info. Please tell me where I can find info on the UCC and what does TL stand for? Can't find it on the resources page, sorry.
willingtocope Posted April 13, 2008 Report Posted April 13, 2008 TL = tradeline, the line that a creditor puts on your credit report.UCC = Universal Commercial Code. Do a google for that. There may be some specific variations for your state.
gordonfan Posted April 13, 2008 Author Report Posted April 13, 2008 It says:Balance - $0Past Due - $0Activity/Description: Transfer/SoldComments: Charged off account
gordonfan Posted April 13, 2008 Author Report Posted April 13, 2008 I have spent hours trying to research the UCC in NC and I just can't find what I'm looking for. It's a bunch of legal crap that I can't understand. I'm just gonna send a DV to them tomorrow. Meanwhile should I answer their calls?Should I include a cease and desist in the DV?
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