...a debt, can they sell it? I beat Credit Store and they are sending me a letter stating I owe them nothing because original creditor couldn't provide docs saying the account was mine. Can they now sell this to someone else to try and collect on and if so, will this letter help me if they do?
I've wondered that too. In looking through the FDCPA it appears that the law doesn't address whether an unvalidated debt can be sold. Common sense would suggest that a CA shouldn't in good conscience sell paper to another CA that they can't even confirm is real. On the other hand, since when do CAs have good consciences? LOL. Finally, once in awhile a Creditnet member will report that a CA has transferred an unverifiable debt. If I had to guess (and my guess is as good as anybody's, I suppose), I would say -- NO, they shouldn't sell debts that can't be validated, but they do it occasionally anyway. As for that piece of paper you have that attests to the unverifiable nature of the alleged debt, yes, that should help you greatly should the debt be sold (and even if you had to ultimately litigate over the matter). Consider these to be unverified opinions. Hopefully someone with more expertise will comment. Doc
There are posts on here where CA's have bought debts dismissed in BK and ones that are past the SOL, so I agree with Doc and would keep that letter forever, well at least ten years anyway. LOL Tuit
