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re: Disputing a charge from a debt collection agency.
Posted on 4/26/23 at 9:54 pm to KyleOrtonsMustache
Posted on 4/26/23 at 9:54 pm to KyleOrtonsMustache
quote:
idk if that applies to medical debt bought by a collection agency.
I don’t think collectors that buy debt can even report it to the credit agencies. They don’t hold the original debt.
Unless you pay it. That acknowledges the existence and validity of the debt.
1
Posted on 4/26/23 at 9:59 pm to TomJoadGhost
quote:They buy the accounts usually in a legal fashion that they literally assume all rights including terms of credit which allows them to legally report. (allonge, assignment, etc.)
I don’t think collectors that buy debt can even report it to the credit agencies. They don’t hold the original debt.
ETA: I worked a couple years for the world's most profitable debt collection agency and another couple with an attorney whose main line was collecting debts (the latter was also a state senator at one time). Then I spent a decade mainly performing loan documentation for a couple of banks.
This post was edited on 4/26/23 at 10:06 pm
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