Discover payment due today and I'm not

[treehugger1]

Junk Debt Buyer - If a original creditor (OC) decides to sell your debt rather than simply assign the debt for collections, then the OC probably packages the debts they intend to sell and market the debts as a package. Once the JDB owns the debt, the OC should probably report a $0 balance to your credit report. If you know the debt was sold and the OC still reports a balance, then this is an easy dispute.

The thing about the buyers of sold debt is that it may not be the case that the JDB received much information about the account itself. This is why consumer attorneys will often fight a JDB for documentation. There is a chance that the JDB only received and account number, amount owed, and some addresses. If a debtor was sued and attempted to answer the suit, the JDB might have a tough time coming up with information.

[SandyShores]

The thing about the buyers of sold debt is that it may not be the case that the JDB received much information about the account itself. This is why consumer attorneys will often fight a JDB for documentation. There is a chance that the JDB only received and account number, amount owed, and some addresses. If a debtor was sued and attempted to answer the suit, the JDB might have a tough time coming up with information.

Thanks. I did some research and found what you said to be quite true. There are even sample letters to send them asking for "media" to validate the debt including the original credit card agreement which they often times can't produce. Like you said they may have a tough time coming up with more than the account number etc. but that doesn't mean, I found, that if they sue you they won't win. Depends on the judge I guess.

Thanks

SandyShores