I was wondering if a company sells a persons charge to another company does that mean that it would be more likely that they wouldnt have the information on the charge anymore? I am talking about debt that is 5 yrs old. Thanks Casper72 P.S. I LOVE THIS BOARD!! So Many Questions But So Little Time
Casper: Are you referring to charged off debt or the single charge of an item, such as against a credit card?
Casper: Ahhh, okay, thought so but wanted to be sure before responding. Charge-off records are passed to the new creditor (the buyer), including available hard copy material (in limited quantities). Once the original creditor sells the account (generally by bulk transfer), it would only have records of queue data archived for long-term storage. Access to these, however, would not be readily available to a consumer unless by a court order â?? and even then itâ??s a tough call. Have I addressed your concern? If not please post again and Iâ??ll give another whack at it.
Anthony- I am sure that you do not mean that the new collection agent is not obliged to provide information to prove that the account and amount owed, as described by the FCRA, is in fact the consumers. Right? This sounds like a great question for Bill or Lizard King.
Keltexx: Thatâ??s a matter of opinion, nonethelessâ?¦ Otherwise, I agree with the balance of your post! [;-)
