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California! Portfolio recovery summons help!


cee_dub2003
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Ok here is my situation! I was issued a summons by Portfolio Recovery! Its for a 2 year old capital one $500 credit card i defaulted on. On my credit report it says the account is CLOSED, and was purchased by another lender! how can Portfolio sue me for something i don't even owe portfolio?

Also since it shows it was purchased by them and not sold to them is the debt liable to portfolio?

Also how do i answer the summons?

thanks chris

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On my credit report it says the account is CLOSED, and was purchased by another lender! how can Portfolio sue me for something i don't even owe portfolio?

It's called assignment. It's actually pretty basic contract law. The contract will state they can sell or transfer their rights to another party. It's very common and just the way it is.

Another party buys the debt/account and then they step into the shoes of the original creditor. It's called standing. They now, or they claim to have, standing.

Now with that said, they still have to prove they did buy the account and are now the legal owners. That is a tough task, which they usually can't do if you play your cards right.

Research standing (you can use the search function), junk debt buyer, hearsay, arbitration, and discovery.

How do you answer the suit? Your rules of civil procedure will spell it out. Generally speaking, you file an answer, deny the claims, file your answer with the court, send your answer to the other side, and then start discovery.

Looks like your not all that familiar with civil law. Not a big deal, few are right out of the gate. These guys are beatable, but you will have to devote time, effort, and be willing to teach yourself the important part of the law.

Bottom line, you've been sued by a junk debt buyer that is alleging they bought your debt and you now owe them. The original creditor (Cap One) no longer has a dog in the fight, according to them. Make them prove it.

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Agree with 1st Step...doubt they'll put up much of a fight for a $500 debt, wouldn't be surprised if they dismiss if they don't win by default.

So get that answer in, probably can use a general denial (unless it's verified, which I doubt) and then send them a demand for bill of particulars. You can find a template in this forum.

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