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SOLD OFF DEBTS

by GARY
(BELVIDERE,N.J.,U.S.A.)

CAN SOMEONE PURCHASE YOUR DEBT AT A LARGE DISCOUNTAND THEN HIRE A DEBT COLLECTOR TO THREATEN SUIT ? N.J.

Comments for
SOLD OFF DEBTS

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Mar 21, 2011
 debt sold to collection agency
by: DebtCollectionAnswers.com

Creditors and even some debt collectors routinely sell uncollectible debts to collection agencies/ debt buyers. It is not necessarily illegal for a collector or to threaten a lawsuit, but it must be very careful to follow the law if it does. Under the federal Fair Debt Collection Practices Act, the collection agency cannot threaten to take legal action they cannot take or does not intend to take. Sometimes, threats over lawsuits are illegal, depending on how the threat is made.

We would suggest you at least read the first chapter of Debt Collection Answers online for free to make sure you have an overview of your rights when dealing with this debt collector.

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