Unique1991

OC vs debt collector

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There are some cases in which an OC will buy back the debt.  
 

There are three possibilities:

1. The OC never sold the debt. 
2. The OC bought the debt back. 
3. The suit is an error.  

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At some point, the plaintiff will offer an affidavit.  If it states  that the money is owed to Barclays, then it will be accepted as fact.  

The OP could also check his credit report.  If Barclays is reporting, it will show a -0- balance and “transferred” or “sold” if it has sold the account.  But it still shows a balance and no “sold” or “transferred”, Barclays is still the owner.

We also have to consider that some defendants assume law firms have actually purchased accounts.  They don’t realize that the law firms are simply representing the plaintiffs.

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Ok so I had barclays mail me via fedex my card agreement in the agreement it says if I elect for arbitration they will honor it and rescind the lawsuit. Question is now that there is a lawsuit I haven’t been served either should I initiate arbitration now and on THIER end they have to rescind or follow up with MTC and answer

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On 2/13/2020 at 8:53 PM, Unique1991 said:

Also when I call Barclays they tell me on the phone that track America has my account so should I file arb or do a MTC and answer

 

I would wait to be served.  You can file a MTC arbitration after service, but most OCs will agree to arbitrate.  Arbitration works better against debt buyers because they will usually dismiss rather than arbitrate.  It doesn’t usually happen that way with OCs.

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4 hours ago, Unique1991 said:

If they can’t serve me then do I wait I called the law office already to do a payment plan but didn’t acknowledge the lawsuit ?

Don't bother calling then until after you are served. They will simply make an offer, get your address, and then have you served and say the offer is rescinded. While waiting to be served, save up as much as money as you can so that you have something to offer.

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Yes I mad the mistake an already call before getting served I was told to have them serve myself then file a MTC and answer I’m dealing with OC and I’m trying to see what necessary I don’t want to imitate AAA until I get a court dismissal

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