When a creditor charges off an account then sells it to a CA can both parties collect on the debt from the consumer? What about a sale to the CA but no Charge off, CAn both parties still collect on the debt?
How can a creditor collect on a debt it no longer owns. I don't think they can both collect. Have you checked the FDCPA? I don't know if it specifically states anything regarding this situation or not.
No and No. Once the original creditor SELLS the debt, there is no longer a debt with the creditor. It is now with the party, usually a CA, that bought the debt. Same logic for the second question.
If you sell your car to mr smith and mr smith sells it mr jones can you and mr smith both collect from from mr jones?
Of course not (unless they're the mob!) which this seems to be the case..... I know, I just need to slam some "legality"down their throat, and I was hoping to have this information by today! I'm surfing the web to try and find the answer, but no luck yet...is their a state law (calif) or federal law on this????
