I know every cc has an assignee clause but what i would like to know is how many times can a cc account be assigned to different ca's without the debtors approval?Example=Chase sells to nco who sells to unifund who sells to asset acceptence etc.The debtor gives permission to chase to sell the defaulted account to lets say nco but the debtor never gave nco the right to sell it to unifund or whoever comes after that.Does an assignee clause have no legal limit to the amount of times an original defaulted cc account can be re-sold?The reason i ask this is because i have a defaulted cc account that has now been sold to a 3rd ca.
There is no limit to how many times a debt can be assigned or sold. There may be a limit on the collection efforts that can be attempted, however. Process for dealing with a 3rd CA depends on how you handled the account with the first CA. In any case, it is always wise to submit a DV within the 30-day window of receipt of their first correspondence to you. What happened in the past will determine how it would best be worded. With more detail on what transpired between the first two CA/JDBs, we can be of more help.
Unless you live in a state with a Statute of Repose, the debt can be bought, sold and collected in perpetuity.
The original creditor should be the only one who should be allowed to take the debtor to court to try and collect on a defaulted account. Allowing the sale of defaulted accounts to other parties was a huge mistake that needs to be corrected.
I can't forsee that ever happening. Seems like there is no way to legally preclude this activity. I do agree with you though. It is truly dirty pool.
Unfortunately should's don't translate too well in this instance. An asset is an asset, and little restricts its sale or purchase.
I disagree. I do think there should be sanctions against JDBs who file suit with no documentation (not including b.s. affidavits).
In some states (such as WV) there are statutory requirements when filing a breach claim and not attaching the Agreement. If those requirements are not meet, you can move for dismissal with costs and Rule 11 sanctions. You can also counter with FDCPA allegations.
I wonder if it's the same in PA?? I have an identity theft account from 1999 that HSBC keeps selling to various JDBs. It's starting to piss me off. It's ID theft and was removed from my credit in 2001, why is it being sold to JDBs 6 years later?
