Millions of consumers will find themselves being harassed by collection companies, as the economic crisis continues. As a result of uncollected debt, many debt collection agencies will hire attorneys to assist them in collecting the debt.
However, when a creditor assigns a debt to a (collection agency or law firm), they are third party. So can they sue you in court? If either party sues you, often times they will use the (original creditor/trade mark name) when filing suit. Consumers should be aware of this process. Sometimes these companies/attorneys commit perjury and sue under a false pretense.
The law firm is NOT representing the (original creditor) and may not have right to even sue you. The catch here is that the (collection agency is the one who hired them to collect the debt).
Questions to ask:
1. Does the collection agency/law firm, have a legal right to sue and collect the debt? Find out if they do and you may have your case against them.
2. You may NOT owe an attorney or collection company, because he/she is THIRD PARTY. The agreement or contract is with the original creditor. Did you sign an agreement with them? These are questions that you might want to consider, when being sued.
2. Can the attorney/collection agency prove that you (consumer) have a legal binding contract with THEM. Keep in mind that the burden of proof is on the accuser. Therefore, they must produce facts in court.
This article is for informational purposes ONLY! Seek legal advice as needed.
www.reginalittles.com
More information can be found at the Comptroller of the Currency
http://www.occ.treas.gov/customer.htm
Additional questions can be emailed to 1nation4change@gmail.com
Comments
This article was very informational. It have pushed me to ask questions when getting letters in the mail. Sometimes you think you are obligated to just paying the agencies back once they take to that level. This was very informative.
Excellent article,could be inhanced further with the support of some case studies, thus froviding a realistic pathway for your clients.Extremely informative.
Thanks lady. You are such a blessing. Thanks for contacting me the other day. I've read your articles they are great...keep doing what God has assigned you to do...you are gifted, knowledgeable and annointed.
This information is very good and helpful to us.this is very informative
Great information Regina! Thanks for sharing.
I found this very helpful. Keep up the helpful information.
This artical is very helpful to me in understanding how theses companys work against the consumer. keep up the great work Regina!
Thanks for the information. I look forward to reading more of your posts. This was very informative. Keep up the GREAT work.
This is a very helpful article and Ms. Regina Littles, you are providing a great service...One Love
Thanks for the info Regina
Regina you are the best.... thanks for those wonderful info.....
keep up the good work....again thnx
Thank you for the information, Regina. You have helped a lot of people. God has truly shown you your purpose. Thank you for sharing your gift with everyone. God Bless! :)
Wow i am in the process of taking my realestate exam and your words have enlighten me in suc a ways, i know alot of things i didnt know before . Thanks Gina. God bless
Good information Regina, I use to work for a collector :)
This certainly sounds like misrepresentation to me. In other words, the company that has bought the bad loan does now have the right to collection because no agreement has been signed with them? Am I missing something here?
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