What is the difference of a collector owning a debt or just collecting on a debt for someone else. I'm a little confused as how to handle this.
As I understand based on the FTC opinion letters, even if the collector purchased and thus "owns" the debt, provided their primary purpose with regards to the debt is collection they are subject to the FDCPA. As such, you can proceed with the validation route. Unless they are the original creditor, treat them just as you would any other collection agency. If they try to convince you otherwise, don't believe it. I'll see if I can find the opinion letter on this subject... -- cnswift
So if a ca does not own the debt...they can't validate that I owe them and they should remove it from my credit report?
Hehe, it's not that easy, unfortunately. They are required to contact the original creditor, get the proof you owe the debt, and then send it back to you. A lot of times they are either A) unable/unwilling to do this or B) unable to provide something that actually qualifies as "proof". -- cnswift
