Can a credit company discuss my account with someone with my permission to do so?
2006-08-02 03:39:12 · 2 answers · asked by srshjj 1 in Business & Finance ➔ Credit
Someone is asking me questions about someone elses account and telling me that they are behind on the payments,they wrote a hotcheck,and other information about the credit application (telling me they are going to reposses the property, what their income is, and asking me for money)
2006-08-02 04:46:02 · update #1
Sure sounds like NC knows what he's talking about. To bad he doesn't have a clue, and can't take a moment to research his answer first.
OK, lets all open our books to the Fair Debt Collections Act Section 805(b) (See below....)
What they did was illegal, and your friend can sue them in small claims court for violation of several parts of the FDCA, and can win $1000 for each violation. He can easily do it in small claims court without an attorney.
They get away with this because you don't know the law!
2006-08-02 08:35:01 · answer #1 · answered by Anonymous · 1⤊ 0⤋
A credit card company can discuss your account with anyone it chooses, at least for the purpose of selling your debt. Credit card companies routinely sell credit card debt via securitization. Right now, there are about $400 billion worth of bonds backed by credit card receivables out there...
2006-08-02 10:50:30 · answer #2 · answered by NC 7 · 0⤊ 0⤋