I had a Wachovia visa card. The whole Wachovia credit card portfolio was sold to First USA. Now I guess they are Bank One. I filed bankruptcy 7 and am having problems with malicious credit reporting by First USA. My question is, Is First USA considered the original creditor, even though all of my dealings were with Wachovia? I need to understand whether they get a verification letter as an original creditor, or a validation letter as a collector? The account was current when transfered to First USA. Any help or clarification would be appreciated.
I think yes... however, there may be an exception to the rule *IF* the account was purchased after it was in default, then you may be able to argue that they are collecting a debt due to others, even though they became the others... I have a similar but different problem of being on a blacklist because of an account which is under dispute, and apparently the oc sold their portfolio to citibank...
[color=0066FF]§ 808. Unfair practices [15 USC 1692f] A debt collector may not use unfair or unconscionable means to collect or attempt to collect any debt. Without limiting the general application of the foregoing, the following conduct is a violation of this section: (1) The collection of any amount (including any interest, fee, charge, or expense incidental to the principal obligation) unless such amount is expressly authorized by the agreement creating the debt or permitted by law. [/color] Could First USA produce an agreement creating your debt with their name on it? Here is your answer ...
