I have posted several threads about the same account but they are different questions I have about either the law or the account. This one is about providing the consumer a date that the account was sold to the co0lelction agency. The letter I recieved from the Collection agency H&K stated they are charging me 24.9990 % anumm from 2/18/2007 til present...When I looked at all three credit reports it states that the account was sold by Wamu to them on or about 10/2007, and in the inquires area, H & K are shown to inquiry on or about 10/2007. So how do I get the real age of when the CA was sold this account by the OC? Also What is meant by an assignee? The letter states Hudon and Kesyes Llc Assignee of Washington Mutual Bank
From what I have read and dealt with an account can be sold or assigned to a CA. If the account is sold then the debt is out of the OC's hands but if assigned then it has just been sent to the CA to collect the debt and the OC still owns it. The assignee is H&K and Wamu actually still owns the debt. So I believe the answer to you question is it was not sold as of yet.
The legal term assignee means that they have the right to collect the debt. However, in this context you can be sure that WaMu sold the debt. They always do. Contact WaMu in order to see the date sold. However, the date of last activity it more important.
Right. There are essentially two types of assigment, one is for purposes of collection and goes back when the OC wants it. The other is irrevokable, is the selling of the account. This information should be discoverable from the assignee. If I recall right, isn't this the one where they sent a claim that "on or about" some date such and such supposedly happened?
Conact Info Does anyone know of MaMu contact information? The main line is useless in trying to get anything from them. Also, while contact WaMu, what do I do about the CA h&K? They expect payment on the 5th, but one paper the stipluation of settlement they sent me states the payment is due on May 5th which I just recieved that on Sat. but the letter they sent me with that states that beginning May 30th and every month thereafter. I was going to send something like this to H&K(this is just a general paragraph) I am in receipt of your Stipulation of settlement and your Affidavit of Confession of Judgment. Based on the conflicting dates of payment and the time frame in which this was sent to me, it is impossible to remit payment on the 5th of May,2008 so I will use the date May 30th, 2008 that is enclosed in the letter you sent me dated May 1st which outlines our agreement. Also I have noticed that the first letter that was sent to me dated April 10th indicated that interest of 24.9900% per annum was being charged dating back to 02/28/2007, and the Affidavit of Confession Admission listed interest as 9% per annum dating back to 02/28/2007. To me this is conflicting data that I would like to rectify immediately. Since all three credit bureaus show that the ownership was transferred/sold from Washington Mutual to Hudson and Keyses, on or about 10/2007, I would like to verify the date this account was in fact sold to your company and also I would like you to enclose the agreement between your Company (Hudson and Keyses) and the Original Creditor (Washington Mutual) that states interest of 24.990% or any interest to that matter can be transferred forward to this account. I will recalculate the amount owed minus any interest and send payment on a monthly basis until such information is sent to me. If you do provide this information, then I will remit payment for the said amount of interest that was held in all past payments. Also, can you please attach a time table or schedule of payments outlining a start date and an end date of said payments to your office for my convenience. Total Balance Due: $5909.13 Interest 24.990% Total Balance Due $7555.74 12 Monthly $629.645 Total Balance Due $5909.13 Interest 9% Total Balance Due $6489.257 12 Monthly $540.77
If they bought the debt, I wouldn't be so quick to offer a full-price settlement. If they bought the debt, they probably bought it for less than ten-cents on the dollar so if you paid them 1/2 of the alleged balance they would still be money ahead. Also, if you can pay in a lump sum, that is much better than any payment arrangement. A payment arrangement just creates a new debt obligation that restarts the SOL so if, for some reason you should miss a payment, they can use that as a reason to throw out the old agreement and come back with the original plus all the back interest and have a new date from which to calculate the SOL.
