JDB Ignorance

[treehugger1]

I had a BoA charge off perhaps a year ago. They sent the account to a couple of collection services and finally sold the account to a national junk debt buying firm. I won't say the JDB firm name at this point. I will say that this firm has many subsidiaries that are CA's who attempt to collect on the debt. The JDB has also been sued many times by many states and consumers. Here are some details.

BoA shows account sold with $0 balance on my credit reports. I called them a few months ago just to "check the status" of my account. BoA told me they no longer owned the account and when I asked them what I owed them, they replied, "Nothing, you no longer have any accounts with us." They verified that the debt had been sold. Interestingly enough, they didn't know who had purchased the account. I'm guessing the account was packaged in some portfolio. It is hard to know. I also assume that this must be the reason why the JDB never responded to my request for verification. The JDB does report the account to credit reporting agencies marked as "disputed."

The JDB passed the account to one of their collection attorney firms. I responded this time with a C&D. Nothing happened. About a month ago, the JDB account was then passed to another of their collection agency firms. I did some research and discovered that this particular CA is the firm the JDB uses when the consumer is hard to collect from. I have not sent them a DV yet, but will send one in a day or so.

I received a call this week from the CA.

C: Is ####?

Me: Yep, whose calling please.

C: #####. (Some time spent verifying who I was and reading me the debt collection rights stuff.) This call may be recorded.

Me: That's fine. What did you say the name of your company is again? I will also be recording the call. (Turn on recorder.)

C: That's fine, sir. I represnt #######. We are calling in reference to a delinquent BoA account.

Me: I'm sorry, I don't have a BoA account. Are you sure sure you are collecting for BoA? Remember, I am recording this call.

C: Yes, BoA.

Me: Hmmm...You see I called BoA and they told me that I don't have any accounts with them. They also told me that I don't owe them any money. So, who exactly are you collecting for?

C: I told you, sir. BoA.

Me: Do you know that it is against the law to misrepresent collections actions? Are you lying?

C: Are you accusing me of lying?

Me: Just asking. One more time, who are you collecting for?

C: Do you intend to pay this debt?

Me: Can you give me a mailing address where I can send you a summons via certified return-receipt mail? (Total legal in my state.)

C: Click.

This was really amusing. In addition, it showed me that this particular CA firm (owned by the JDB,) probably tells their call center people nothing about the details of accounts.

Would I sue them. I have better things to do with my time. I will send them a DV letter (first contact) and request verification and name and address of original creditor.

I found it amazing how calm I was through the entire coversation. I was somewhat stunned that the caller appeared to have no idea that she was not collecting on behalf of BoA. She was very kind, but apparently ignorant.

[AngelinaCatHub]

LOL. That was a great post. "Revenge is a dish best served cold". Good job. 'Hub

[frogger]

Amusing. It appears that the collector was not smart enough to know that their JDB owned the account and they were collecting for themselves.

It'll really be good when you ask for supporting documentation.

[calgirl67]

I love it!

[dscurlock]

Actually, what they are doing sounds right..there has to be a ref starting
point somewhere on what account is being collected on...it sounds like it started off
at BoA - and they sold it to other CA's...so in essense..the starting point
of the collection to refer you too would be BoA as that would have been
the orginal account that went to collections...just because BoA closed it
with a $0 Bal, and resold it to another collections does not release you
of the obligations, at least i do not think it does...

anyone feel free to correct me...

[treehugger1]

And that is the amusing part. BoA specifically stated that I have no obligation to them. I have requested this from them in writing, and it will be quite interesting to see what they send me. This is why some JDB call themselves "factoring" (or whatever) comapnies. They purchase these large blocks of debt. How does this work in terms of state and/or federal statutes? I'm clueless. However, all my accounts reported to credit reporting agencies that have been ASSIGNED to debt collectors show a balance owing even though they are charged off. Accounts that have been SOLD to JDB's show $0 balance.

I went back and read the most recent dunning letter and it clearly shows the creditor as ######JDB. It lists original creditor as BoA which is correct. However, any legal connection between myself and BoA appears not to exist. BoA even eluded to this. The call center was NOT collecting on behalf of BoA, as they stated more than once. BoA doesn't appear to give a sh*t about any of this.

Final irony. I applied for a checking account at BoA, and they had no problem with this, knowing that I defaulted on several unsecured accounts. Why should they care, these debts must be "satisfied' in their minds. I'm beginning to understand why so many JDB's have such a difficult time coming up with any original documentation associated with some account. They buy this toxic crap in bulk. I suppose they only get whatever supporting documentation came in the portfolio.

Still amusing.

[flyinbroke]

Nah, what is even more amusing is that when they can't produce verification (and we both know they will not be able to) then you can have it removed from your credit reports. Voila! Nothing but some late payments to BoA and you owe them zip.

[frogger]

BoA specifically stated that I have no obligation to them.

And since your debt was sold to a JDB, you no longer do have any obligation to them.

I have requested this from them in writing, and it will be quite interesting to see what they send me.

That will be interesting.

This is why some JDB call themselves "factoring" (or whatever) comapnies. They purchase these large blocks of debt.

In chunks of millions of dollars at a time.

How does this work in terms of state and/or federal statutes?

Original statute of limitations still apply. Just because they bought it doesn't mean that the stats start over. It's not new debt, it's just new to them.

I'm clueless. However, all my accounts reported to credit reporting agencies that have been ASSIGNED to debt collectors show a balance owing even though they are charged off.

As it should. The assignment gives a debt collection company complete and total control over the account without actually owning the account. Without this assignment, they could not sue you. In our area, when a collection agency sues on behalf of a client, they must show the assignment of debt.

Accounts that have been SOLD to JDB's show $0 balance.

But the JDB buyer could report it on your credit and be correct.

The call center was NOT collecting on behalf of BoA, as they stated more than once. BoA doesn't appear to give a sh*t about any of this.

They don't give one, nor can the give one. They sold the debt, so you no longer owe them any money.

I'm beginning to understand why so many JDB's have such a difficult time coming up with any original documentation associated with some account. They buy this toxic crap in bulk. I suppose they only get whatever supporting documentation came in the portfolio.

Supporting documentation? That's a laugh....

They bought a computer file with your name, address, contact numbers, and balance due. It was a file that transferred directly from BoA to the JDB via the internet. No "real" files ever changed hands. No paperwork was involved.

The JDB paid pennies on the dollar for your debt. CC debt was selling for around 3.9 cents on the dollar until the economy tanked, and now the going rate is less than 2 cents per dollar, if the JDB can get it financed.

Amusing is a good term for these bottom feeders.

[Bell30656]

Actually sometimes these JDB's do get some documentation with the debts. Bank of America sold my debt to NEMDEGELT out of Hernandez, Georgia who sued me in superior court. Unfortunately for them the statute of limitations was actually out when they filed. This did not prevent them from suing me. The debt spent a year working its way through the court system only to be included into my CH7. Sucks to be them. I hope their lawyers cost them plenty of Geld! During discovery I got copies of all the paperwork. They had a pretty decent file and an affidavit from someone at Bank of America.

[GoingDown]

Actually, what they are doing sounds right..there has to be a ref starting
point somewhere on what account is being collected on...it sounds like it started off
at BoA - and they sold it to other CA's...so in essense..the starting point
of the collection to refer you too would be BoA as that would have been
the orginal account that went to collections...just because BoA closed it
with a $0 Bal, and resold it to another collections does not release you
of the obligations, at least i do not think it does...

anyone feel free to correct me...

They could have said something like... "we are a company which purchased your debt from Bank of America, and we intend to collect the entire balance due now." But they are not supposed to pretend that they are a third party debt collector collecting on behalf of B of A.

Some of these jdb's will later try to file a lawsuit, supposedly on behalf of B of A, when B of A no longer has anything to do with it. It's not right.

[Bell30656]

Actually, sometimes the purchase agreement gives them the right to act on behalf of Bank of America in reference to this debt. When they sue you they will also name B of A as one of the plaintiffs. Two lawsuits that I had against me both had the OC listed as a plaintiff. I will have to dig out the information that I received during discovery.