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own vs. assignment-quick question

Discussion in 'Credit Talk' started by sweetevl, Dec 3, 2003.

  1. Dec 3, 2003 #1
    sweetevl

    sweetevl Well-Known Member

    Quick question..

    Can someone explain the difference in a CC owning a debt vs. being assigned ??
     
  3. Dec 3, 2003 #2
    sweetevl

    sweetevl Well-Known Member

    ****correction***

    It should say CA not CC...
     
  4. Dec 3, 2003 #3
    SCMomof5

    SCMomof5 Well-Known Member

    owning means CA bought the debt for pennies on the dollar so they profit from how much more they can collect over what they paid. assigned means the OC still owns the debt and CA is just collecting for them.
     
  5. Dec 3, 2003 #4
    sweetevl

    sweetevl Well-Known Member

    Thanks SC.
    What is my leverage if the CA was assigned the debt? By leverage, I mean getting it taken care of as far as getting it off my reports. OC or CA?
     
  6. Dec 3, 2003 #5
    tonyd

    tonyd Well-Known Member

    You really don't have any leverage until they walk into a violation or 2 during the validation process.
     
  7. Dec 3, 2003 #6
    sweetevl

    sweetevl Well-Known Member

    Gotcha..tony...off I go to validate...
     

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