mag2008 Posted September 26, 2008 Report Share Posted September 26, 2008 If OC sells debt to JDB, can OC still collect money from my checking account based upon a settlement agreement reached with OC prior to the sale?I posted the entire story on another thread "wamu/prov".Thanks to every on this board for all the great info! Link to comment Share on other sites More sharing options...
nascar Posted September 26, 2008 Report Share Posted September 26, 2008 What were the terms of the settlement agreement? Link to comment Share on other sites More sharing options...
mag2008 Posted September 26, 2008 Author Report Share Posted September 26, 2008 50% of the outstanding debt payable in 4 installments. 2 payments have been but when they were made, I didn't know the debt had been sold. Link to comment Share on other sites More sharing options...
nascar Posted September 26, 2008 Report Share Posted September 26, 2008 If you were not properly informed of the assignment, any payments you made to the OC count toward payment of the debt, even after the assignment was made. But, once you know an assignment was made, you are responsible to pay the assignee. If you pay the original creditor after you know an assignment has been made, you are still liable to the assignee for the same amount. Link to comment Share on other sites More sharing options...
mag2008 Posted September 26, 2008 Author Report Share Posted September 26, 2008 The payments were direct debits from my account set up at the time of the agreement. I didn't know the debt was sold until after the second payment.Is it legal for the OC to continue take the money even though they didn't own the debt any longer?Also, does the JDB have to honor the settlement agreement I made with the OC? Link to comment Share on other sites More sharing options...
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