Does original creditor have to tell me about account?

[earnestbunbury11]

Hi. I got a letter from a company called Cach, LL. They say I owe them $4000+ dollars. The original creditor was HSBC Bank in Nevada. I wrote to Cach, LLC about the debt and they said they weren't a collection agency but some sort of middleman that gave the accounts to lawyers across the country so they could sue people. The way they appear to work is that they buy junk debt from years ago and sue. The people they sue get scared and don't answer the summons or show up in court, so Cach, LLC wins by default and start garnishing their wages, etc.

I DO NOT want to talk to these bottom feeders, who I consider scum sucking the last life out of people suffering in this economy, suffering caused by people like them. So I called HSBC Bank in Nevada. They said that they couldn't tell me anything about the debt, that capital One bought up a bunch of HSBC's old files and, I'm guessing, sold them to these 'how do they sleep at night' law firms. This is just a shot in the dark, but is there any part of the laws in the FDCPA or any law that says they can't tell me ANYTHING about a debt they sold to Cach? I have called about a card that was charged off before from Capital One and they said I couldn't PAY them, as they had sold the debt to a collection agency, but they did tell me the account numbers and amounts and what sort of loan it was. I'd like to be able to call them back and demand they tell me the dates and amounts and account numbers, etc. but I'd need chapter and verse from the FDCPA. I know some of you have practically memorized the thing and I'm asking for a little help on which sections to cite to HSBC about this debt.

The only record that I have on this debt is one showing up on my TransUnion credit report saying 'Paid as agreed'. I know that the SOL has passed on this, but I don't want to wait around for Cach, LLC to sue me, or have the summons 'lost' and find out when they empty my bank account. In fact, I'd like to sue them, if that was even possible, and HSBC too if I could. I'm just SO INCREDIBLY MAD that people are collecting gossip and selling it back and forth to each other and it being somehow OK in this country. Sorry for the rant but- chapter and verse anyone? Please. AND thank you.

[cashnocredit]

Nothing in the FCRA requires or prohibits OCs from providing billing information from accounts they no longer own to you.

[mizliz1011]

so in your corner on this. I am afraid of a few coming back to bite me in the flowers...just because Midland can't verify I am sure that they might pass on the crap paper... I have moved since then but I am hoping to get my address deleted so that they don't track me down... SOL is 6 years here and that will be 2015... Its not that I think that they can validate, I just fear that they will try to serve me and get a default judgement on sewer service.

 

They are introducing legislation to make CA/JDB validate a claim before they go to court but its not done yet. Look at the Consumer Reports mention of Consumer Union's aricle on this issue. Good luck to ou.

[StupidCredit]

Hi. I got a letter from a company called Cach, LL. They say I owe them $4000+ dollars.

 

 

I wrote to Cach, LLC about the debt and they said they weren't a collection agency

LOL. They sent that to you in writing?

[earnestbunbury11]

Yes, they did. Their letter says, "CACH, LLC is the purchaser of charged off receivables. CACH does not engage in any direct collection activity. Accounts are placed for collection with third party law firms."

[Sandscrit]

Yes, they did. Their letter says, "CACH, LLC is the purchaser of charged off receivables. CACH does not engage in any direct collection activity. Accounts are placed for collection with third party law firms."

Cach LLC is still considered a debt collection company under FDCPA guidelines. They have been sued for FDCPA violations plenty of times. Teling someone they are not a debt collector may be considered false or misleading representations of a debt.

[earnestbunbury11]

Wow. Thanks. What section is that in, if you don't mind me asking? (I really have to memorize that thing)

[StupidCredit]

Yes, they did. Their letter says, "CACH, LLC is the purchaser of charged off receivables. CACH does not engage in any direct collection activity. Accounts are placed for collection with third party law firms."

 

Well did the letter stating you owed $4K come from CACH or a law firm saying they represented CACH?