How do you know if the CA you are dealing with is a JDB? And exactly what is the difference between a CA and JDB? I read posts that say don't deal with JDB-ers but it is ok to deal with CA's. I'm confused (which isn't hard to do).
JDBs own the debt themselves. Typically they have only a tenuous ongoing relationship (forward flow contract) with the original creditor if any at all. They will need to buy documentation from the OC if you dispute the claim. The OC may or may not have it to sell. There may also be problems with hearsay rules if they try to use what they do get as evidence in court. In other words, they may not have the goods to beat you in a stand-up fight. CAs are different. They don't own the debt. They do have ongoing relationships with a creditor who may be willing to have their records custodian show up in court and attest to the validity of their documentation. There's a good article kicking around with a title like "Zombie Debt Collectors Dig up Your Old Mistakes" ... it lists some of the big boys in the JDB industry.
I have read allot about Midland on this board and am assuming that they are a JDB from what I've read. How do you find out if who is calling you or sending you letters is a JDB? Just enter their name in Google and see what comes up? I went and read the "Zombie" article .......thanks.
It's possible ... perhaps even likely among small fry ... but the heavyweights pretty consciously split the functions into different entities. Sometimes each major purchase of debt gets its own new business entity formed ... controls liability.
I believe it was on this board where a CA was collecting on a debt owned by a JDB and the JDB and CA were husband and wife. I also had always thought that CAM---ASS---CE was one in the dame with CACV, et al.. As in court records when sued they were one in the same BUT of course with different LLC's. Woofer
