2006-07-12 13:09:04 · 5 answers · asked by amanda b 2 in Business & Finance ➔ Credit
i know i don't have to deal with collections ... how do i find out who the original debtor is???
2006-07-12 13:24:07 · update #1
By law, you can refuse to even speak to the collection agency. Only the orginal creditor has the authority to collect the debt.
2006-07-12 13:18:31 · answer #1 · answered by hhhthegame 3 · 0⤊ 0⤋
HI amanda,
Typically the debt is sold to collection agencies pennies on the dollar. For example, the collection agency buys the debt from the original debtor for .65 cents for every one dollar of debt.
This means the collection agency owns the debt and you have to pay them.
Your situation may be different, however most collection processes work in this manner.
Sorry I wasn't more help.
Good Luck,
~Trey
2006-07-12 13:15:14 · answer #2 · answered by ~Trey 3 · 0⤊ 0⤋
Usually, when a debt is turned over to a collection agency, you have to pay the original loan off through the agency.
2006-07-12 13:15:09 · answer #3 · answered by andy 7 · 0⤊ 0⤋
i have had this difficulty over the years with different kinds of expenditures. There are numerous people in this section with an same call, and that i have typically had to attend to 'their' expenditures. i do not worry contacting the creditors. I write a short be conscious to the organization explaining the issue, and ask them to thrill maximum perfect their files and notify the series agencies of their blunders. I also make it completely sparkling that i won't be able to be paying the quantity owed, so till they locate the most perfect individual, they'd in no way be reimbursed, and that i'd be compelled to seek criminal suggestion about the harassment. It has worked every time. maximum acceptable desires..
2016-11-01 23:01:14 · answer #4 · answered by derival 4 · 0⤊ 0⤋
they will find you if you owe him money..........
2006-07-12 13:11:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋