Question: If an OC goes out of business and another company buys the OC then who is the OC? Example TSR (OC) Network Services bought them out. If the new OC is going to be Network Servies and there is a CA out there with wrong reporting information and NS only has limited info on the old account how do I prove the account should of never went to CA? I have posted many questions about this thorn if you wish to search.
No, it is not. I believe, in a buy out or merger, the new ower is the "new" OC. Usually you receive notice about the change and have a period of time to cancel your account (paying everything off) if you do not wish to have your account "transferred" to the new owner, or it will "automattically" transfer. Like the aspects of the Estoppel principle, if you do nothing, your account will be transferred to the new ownership as if they are the new OC. This is NOT the same as a third party buyer of the debt. -Peace, Dave
So that means if the CA is not reporting the correct info than I can go to the new OC? And the new OC is now liable for any infractions of the CA?
Not sure. I would say it depends on the relationship and contract between the OC, the CA, and the type of debt (transferred/sold)...Probably also depend on the State. I believe you are correct though, the second OC (the one that bought the original company) would be acting in the same manner as the original OC, and therefore incur all the liabilities the original OC would have. -Peace, Dave
Thanks! You know I will get to the bottom of this sooner or later. I have posted ongoing issues about this TSR account that keeps verifying. If you are bored you can search and get the full picture. Thanks again!
