Re: Re: Re: Re: Re: Re: More on 7 Y Ok, now I'm confused on two issues. If the small fish has already charged it off when they get gobbled, how is now the big fish a Collection Agent? I'm definately missing something here from the accounting side. The small fish has already taken the loss, so you're saying the bigger fish can now go after the debt??? And how does all this effect the 7 year rule???
Re: Re: Re: Re: Re: Re: More on 7 Y If a co. buys a debt which is "in default", they are collection agencies, governed by FDCPA. (Although they will tell you they're not). See? .
