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SteelerChick79
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Yes I understand the practical realities that make life easier for debtors who have defaulted (of which I am one). I'm Just addressing the claim:

"My debt is never sold to a JDB."

 

It *IS* sold to a JDB. Whether the JDB can and will collect, or even attempt to, when confronted with legal and economic realities is a whole 'nother story, I agree. Obviously, that whole industry is modeled on the idea of scaring just enough unsophisticated debtors who do not use Creditboards into paying up something.

If someone sells you a car and doesn't give you the title, did he REALLY sell you the car? When the OC "sells" my debt, he transfers a computer file, a list, of thousands of people who supposedly owe money to the bank. Someone might be on that list and owe nothing to the bank. Bear in mind we are talking revolving credit car debt not a signature loan or a promissory note/car loan. There already lies a problem. When I entered into a credit card contract with the OC, was I part of a list? Why can't the OC transfer my original contract? Or send a letter to the JDB(or to me) telling them(me) that I, tobettercredit, had an unpaid balance and that the balance has been transferred to Midland, for instance? If they did things that way they would make things easier for them and everybody else. But This will NEVER happen because the OC will NEVER want to be exposed to liabilities. Which means collecting revolving debts will ALWAYS be an issue for JDBs.

Do you think the CA/JDB just hands over a stack of unmarked 20s and then the OC hands over a spreadsheet on a thumb drive? Of course not. There is a contract that is signed between the parties that transfers ownership of a list of specified debts from one party to the other, and part of that is the OC certifying that the debts are valid. Basic contract stuff.

Yes basic contract stuff but that contact does not involve me. That's why without a lawyer I defended myself in the court of law against these shady contracts and prevailed.
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Yes I understand the practical realities that make life easier for debtors who have defaulted (of which I am one). I'm Just addressing the claim:

"My debt is never sold to a JDB."

 

It *IS* sold to a JDB. Whether the JDB can and will collect, or even attempt to, when confronted with legal and economic realities is a whole 'nother story, I agree. Obviously, that whole industry is modeled on the idea of scaring just enough unsophisticated debtors who do not use Creditboards into paying up something.

If someone sells you a car and doesn't give you the title, did he REALLY sell you the car? When the OC "sells" my debt, he transfers a computer file, a list, of thousands of people who supposedly owe money to the bank. Someone might be on that list and owe nothing to the bank. Bear in mind we are talking revolving credit car debt not a signature loan or a promissory note/car loan. There already lies a problem. When I entered into a credit card contract with the OC, was I part of a list? Why can't the OC transfer my original contract? Or send a letter to the JDB(or to me) telling them(me) that I, tobettercredit, had an unpaid balance and that the balance has been transferred to Midland, for instance? If they did things that way they would make things easier for them and everybody else. But This will NEVER happen because the OC will NEVER want to be exposed to liabilities. Which means collecting revolving debts will ALWAYS be an issue for JDBs.

Do you think the CA/JDB just hands over a stack of unmarked 20s and then the OC hands over a spreadsheet on a thumb drive? Of course not. There is a contract that is signed between the parties that transfers ownership of a list of specified debts from one party to the other, and part of that is the OC certifying that the debts are valid. Basic contract stuff.

Yes basic contract stuff but that contact does not involve me. That's why without a lawyer I defended myself in the court of law against these shady contracts and prevailed.

 

You prevailed based on what legal premise that broadly applies to others?

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Yes I understand the practical realities that make life easier for debtors who have defaulted (of which I am one). I'm Just addressing the claim:

"My debt is never sold to a JDB."

 

It *IS* sold to a JDB. Whether the JDB can and will collect, or even attempt to, when confronted with legal and economic realities is a whole 'nother story, I agree. Obviously, that whole industry is modeled on the idea of scaring just enough unsophisticated debtors who do not use Creditboards into paying up something.

If someone sells you a car and doesn't give you the title, did he REALLY sell you the car? When the OC "sells" my debt, he transfers a computer file, a list, of thousands of people who supposedly owe money to the bank. Someone might be on that list and owe nothing to the bank. Bear in mind we are talking revolving credit car debt not a signature loan or a promissory note/car loan. There already lies a problem. When I entered into a credit card contract with the OC, was I part of a list? Why can't the OC transfer my original contract? Or send a letter to the JDB(or to me) telling them(me) that I, tobettercredit, had an unpaid balance and that the balance has been transferred to Midland, for instance? If they did things that way they would make things easier for them and everybody else. But This will NEVER happen because the OC will NEVER want to be exposed to liabilities. Which means collecting revolving debts will ALWAYS be an issue for JDBs.

Do you think the CA/JDB just hands over a stack of unmarked 20s and then the OC hands over a spreadsheet on a thumb drive? Of course not. There is a contract that is signed between the parties that transfers ownership of a list of specified debts from one party to the other, and part of that is the OC certifying that the debts are valid. Basic contract stuff.

Yes basic contract stuff but that contact does not involve me. That's why without a lawyer I defended myself in the court of law against these shady contracts and prevailed.

You prevailed based on what legal premise that broadly applies to others?

A contract only applies to the parties who signed it. I have never signed a contract with Midland. And I should not be involved in a contract between Midland and whoever.

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Yes I understand the practical realities that make life easier for debtors who have defaulted (of which I am one). I'm Just addressing the claim:

"My debt is never sold to a JDB."

 

It *IS* sold to a JDB. Whether the JDB can and will collect, or even attempt to, when confronted with legal and economic realities is a whole 'nother story, I agree. Obviously, that whole industry is modeled on the idea of scaring just enough unsophisticated debtors who do not use Creditboards into paying up something.

If someone sells you a car and doesn't give you the title, did he REALLY sell you the car? When the OC "sells" my debt, he transfers a computer file, a list, of thousands of people who supposedly owe money to the bank. Someone might be on that list and owe nothing to the bank. Bear in mind we are talking revolving credit car debt not a signature loan or a promissory note/car loan. There already lies a problem. When I entered into a credit card contract with the OC, was I part of a list? Why can't the OC transfer my original contract? Or send a letter to the JDB(or to me) telling them(me) that I, tobettercredit, had an unpaid balance and that the balance has been transferred to Midland, for instance? If they did things that way they would make things easier for them and everybody else. But This will NEVER happen because the OC will NEVER want to be exposed to liabilities. Which means collecting revolving debts will ALWAYS be an issue for JDBs.

Do you think the CA/JDB just hands over a stack of unmarked 20s and then the OC hands over a spreadsheet on a thumb drive? Of course not. There is a contract that is signed between the parties that transfers ownership of a list of specified debts from one party to the other, and part of that is the OC certifying that the debts are valid. Basic contract stuff.

Yes basic contract stuff but that contact does not involve me. That's why without a lawyer I defended myself in the court of law against these shady contracts and prevailed.

You prevailed based on what legal premise that broadly applies to others?

A contract only applies to the parties who signed it. I have never signed a contract with Midland. And I should not be involved in a contract between Midland and whoever.

 

 

:lol:

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A contract only applies to the parties who signed it..

 

 

 

:lol:

 

 

I'll just politely say, that is incorrect.

I have appellate court rulings to back my assertion. Please go ahead show me My error and I will stand corrected. Meanwhile google Cash vs Nyakonzo and see what the courts here in Georgia have decided on the issue of the PRIVITY of contracts. Edited by tobettercredit
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A contract only applies to the parties who signed it..

 

 

 

:lol:

 

 

I'll just politely say, that is incorrect.

I have appellate court rulings to back my assertion. Please go ahead show me My error and I will stand corrected. Meanwhile google Cash vs Nyakonzo and see what the courts here in Georgia have decided on the issue of the PRIVITY of contracts.

 

 

Selling a CC debt from the creditor to another is called "assignment" and generally does not require consent of the debtor. It's pretty established law. Otherwise JDBs wouldn't exist.

 

https://en.wikipedia.org/wiki/Assignment_(law)

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A contract only applies to the parties who signed it..

 

 

 

:lol:

 

 

I'll just politely say, that is incorrect.

I have appellate court rulings to back my assertion. Please go ahead show me My error and I will stand corrected. Meanwhile google Cash vs Nyakonzo and see what the courts here in Georgia have decided on the issue of the PRIVITY of contracts.

 

 

Selling a CC debt from the creditor to another is called "assignment" and generally does not require consent of the debtor. It's pretty established law. Otherwise JDBs wouldn't exist.

 

https://en.wikipedia.org/wiki/Assignment_(law)

 

 

Absolutely.

 

 

Along the same lines if you had a $20,000 balance on your Costco Amex when the Costco portfolio was sold to Citi, you couldn't just stop paying and then claim that you don't owe it because you don't have a contract with Citi.

 

Good lord.

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A contract only applies to the parties who signed it..

 

 

 

:lol:

 

 

I'll just politely say, that is incorrect.

I have appellate court rulings to back my assertion. Please go ahead show me My error and I will stand corrected. Meanwhile google Cash vs Nyakonzo and see what the courts here in Georgia have decided on the issue of the PRIVITY of contracts.

Selling a CC debt from the creditor to another is called "assignment" and generally does not require consent of the debtor. It's pretty established law. Otherwise JDBs wouldn't exist.

 

https://en.wikipedia.org/wiki/Assignment_(law)

Absolutely.

 

 

Along the same lines if you had a $20,000 balance on your Costco Amex when the Costco portfolio was sold to Citi, you couldn't just stop paying and then claim that you don't owe it because you don't have a contract with Citi.

 

Good lord.

I know assignment. I met it on my business law 101. Simply put JDBs do not meet the conditions of a proper/legal assignment. We might agree to disagree on this. Again read what judges have said about the issue of assignment on some of their rulings. I gave you one Cash vs. Nyakonzo. It's a good reading. In that case there was even a smoking gun. Cash showed that Nyakonzo made partial payments to the lender, they even showed the original contract but the judges ruled against Cash(a well known JDB) on the basis of Standing and privity of contract. Contracts have strict conditions that must be satisfied to be VALID. That's why VALIDATATION request has been a POTENT weapon against JDBs for educated consumers. Edited by tobettercredit
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Yes I understand the practical realities that make life easier for debtors who have defaulted (of which I am one). I'm Just addressing the claim:

"My debt is never sold to a JDB."

 

It *IS* sold to a JDB. Whether the JDB can and will collect, or even attempt to, when confronted with legal and economic realities is a whole 'nother story, I agree. Obviously, that whole industry is modeled on the idea of scaring just enough unsophisticated debtors who do not use Creditboards into paying up something.

If someone sells you a car and doesn't give you the title, did he REALLY sell you the car? When the OC "sells" my debt, he transfers a computer file, a list, of thousands of people who supposedly owe money to the bank. Someone might be on that list and owe nothing to the bank. Bear in mind we are talking revolving credit car debt not a signature loan or a promissory note/car loan. There already lies a problem. When I entered into a credit card contract with the OC, was I part of a list? Why can't the OC transfer my original contract? Or send a letter to the JDB(or to me) telling them(me) that I, tobettercredit, had an unpaid balance and that the balance has been transferred to Midland, for instance? If they did things that way they would make things easier for them and everybody else. But This will NEVER happen because the OC will NEVER want to be exposed to liabilities. Which means collecting revolving debts will ALWAYS be an issue for JDBs.

Do you think the CA/JDB just hands over a stack of unmarked 20s and then the OC hands over a spreadsheet on a thumb drive? Of course not. There is a contract that is signed between the parties that transfers ownership of a list of specified debts from one party to the other, and part of that is the OC certifying that the debts are valid. Basic contract stuff.

Yes basic contract stuff but that contact does not involve me. That's why without a lawyer I defended myself in the court of law against these shady contracts and prevailed.

 

 

 

 

I'm not saying that you didn't prevail for the reason you stated in your particular case.

 

I chose my words carefully because I don't know your details, and obviously if the original account agreement or the assignment agreement between the OC and the JDB is poorly done that's an entirely different matter.

 

 

 

 

 

 

 

Yes I understand the practical realities that make life easier for debtors who have defaulted (of which I am one). I'm Just addressing the claim:

"My debt is never sold to a JDB."

 

It *IS* sold to a JDB. Whether the JDB can and will collect, or even attempt to, when confronted with legal and economic realities is a whole 'nother story, I agree. Obviously, that whole industry is modeled on the idea of scaring just enough unsophisticated debtors who do not use Creditboards into paying up something.

If someone sells you a car and doesn't give you the title, did he REALLY sell you the car? When the OC "sells" my debt, he transfers a computer file, a list, of thousands of people who supposedly owe money to the bank. Someone might be on that list and owe nothing to the bank. Bear in mind we are talking revolving credit car debt not a signature loan or a promissory note/car loan. There already lies a problem. When I entered into a credit card contract with the OC, was I part of a list? Why can't the OC transfer my original contract? Or send a letter to the JDB(or to me) telling them(me) that I, tobettercredit, had an unpaid balance and that the balance has been transferred to Midland, for instance? If they did things that way they would make things easier for them and everybody else. But This will NEVER happen because the OC will NEVER want to be exposed to liabilities. Which means collecting revolving debts will ALWAYS be an issue for JDBs.

Do you think the CA/JDB just hands over a stack of unmarked 20s and then the OC hands over a spreadsheet on a thumb drive? Of course not. There is a contract that is signed between the parties that transfers ownership of a list of specified debts from one party to the other, and part of that is the OC certifying that the debts are valid. Basic contract stuff.

Yes basic contract stuff but that contact does not involve me. That's why without a lawyer I defended myself in the court of law against these shady contracts and prevailed.

 

You prevailed based on what legal premise that broadly applies to others?

 

 

By the way, I did Google the case you referenced and came up with this:

 

Screen%20Shot%202017-02-27%20at%2012.43.

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Yes I understand the practical realities that make life easier for debtors who have defaulted (of which I am one). I'm Just addressing the claim:

"My debt is never sold to a JDB."

 

It *IS* sold to a JDB. Whether the JDB can and will collect, or even attempt to, when confronted with legal and economic realities is a whole 'nother story, I agree. Obviously, that whole industry is modeled on the idea of scaring just enough unsophisticated debtors who do not use Creditboards into paying up something.

If someone sells you a car and doesn't give you the title, did he REALLY sell you the car? When the OC "sells" my debt, he transfers a computer file, a list, of thousands of people who supposedly owe money to the bank. Someone might be on that list and owe nothing to the bank. Bear in mind we are talking revolving credit car debt not a signature loan or a promissory note/car loan. There already lies a problem. When I entered into a credit card contract with the OC, was I part of a list? Why can't the OC transfer my original contract? Or send a letter to the JDB(or to me) telling them(me) that I, tobettercredit, had an unpaid balance and that the balance has been transferred to Midland, for instance? If they did things that way they would make things easier for them and everybody else. But This will NEVER happen because the OC will NEVER want to be exposed to liabilities. Which means collecting revolving debts will ALWAYS be an issue for JDBs.

Do you think the CA/JDB just hands over a stack of unmarked 20s and then the OC hands over a spreadsheet on a thumb drive? Of course not. There is a contract that is signed between the parties that transfers ownership of a list of specified debts from one party to the other, and part of that is the OC certifying that the debts are valid. Basic contract stuff.

Yes basic contract stuff but that contact does not involve me. That's why without a lawyer I defended myself in the court of law against these shady contracts and prevailed.

 

 

I'm not saying that you didn't prevail for the reason you stated in your particular case.

 

I chose my words carefully because I don't know your details, and obviously if the original account agreement or the assignment agreement between the OC and the JDB is poorly done that's an entirely different matter.

 

 

 

 

 

 

Yes I understand the practical realities that make life easier for debtors who have defaulted (of which I am one). I'm Just addressing the claim:

"My debt is never sold to a JDB."

 

It *IS* sold to a JDB. Whether the JDB can and will collect, or even attempt to, when confronted with legal and economic realities is a whole 'nother story, I agree. Obviously, that whole industry is modeled on the idea of scaring just enough unsophisticated debtors who do not use Creditboards into paying up something.

If someone sells you a car and doesn't give you the title, did he REALLY sell you the car? When the OC "sells" my debt, he transfers a computer file, a list, of thousands of people who supposedly owe money to the bank. Someone might be on that list and owe nothing to the bank. Bear in mind we are talking revolving credit car debt not a signature loan or a promissory note/car loan. There already lies a problem. When I entered into a credit card contract with the OC, was I part of a list? Why can't the OC transfer my original contract? Or send a letter to the JDB(or to me) telling them(me) that I, tobettercredit, had an unpaid balance and that the balance has been transferred to Midland, for instance? If they did things that way they would make things easier for them and everybody else. But This will NEVER happen because the OC will NEVER want to be exposed to liabilities. Which means collecting revolving debts will ALWAYS be an issue for JDBs.

Do you think the CA/JDB just hands over a stack of unmarked 20s and then the OC hands over a spreadsheet on a thumb drive? Of course not. There is a contract that is signed between the parties that transfers ownership of a list of specified debts from one party to the other, and part of that is the OC certifying that the debts are valid. Basic contract stuff.

Yes basic contract stuff but that contact does not involve me. That's why without a lawyer I defended myself in the court of law against these shady contracts and prevailed.

You prevailed based on what legal premise that broadly applies to others?

By the way, I did Google the case you referenced and came up with this:

 

Screen%20Shot%202017-02-27%20at%2012.43.

Sorry. Misspelled both names. It's CACH LLC. I am also misspelling Nyakonzo. I will check the proper spelling when I get home. Maybe ICAN or someone familiar with the case could help. CACH is the only major league JDB to never report on my credit reports.

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Yes I understand the practical realities that make life easier for debtors who have defaulted (of which I am one). I'm Just addressing the claim:

"My debt is never sold to a JDB."

 

It *IS* sold to a JDB. Whether the JDB can and will collect, or even attempt to, when confronted with legal and economic realities is a whole 'nother story, I agree. Obviously, that whole industry is modeled on the idea of scaring just enough unsophisticated debtors who do not use Creditboards into paying up something.

If someone sells you a car and doesn't give you the title, did he REALLY sell you the car? When the OC "sells" my debt, he transfers a computer file, a list, of thousands of people who supposedly owe money to the bank. Someone might be on that list and owe nothing to the bank. Bear in mind we are talking revolving credit car debt not a signature loan or a promissory note/car loan. There already lies a problem. When I entered into a credit card contract with the OC, was I part of a list? Why can't the OC transfer my original contract? Or send a letter to the JDB(or to me) telling them(me) that I, tobettercredit, had an unpaid balance and that the balance has been transferred to Midland, for instance? If they did things that way they would make things easier for them and everybody else. But This will NEVER happen because the OC will NEVER want to be exposed to liabilities. Which means collecting revolving debts will ALWAYS be an issue for JDBs.

 

 

Recently I’ve had Synchrony mail me quite a few letters stating they sold my accounts to PRA or Midland.

Edited by SierraStar
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Yes I understand the practical realities that make life easier for debtors who have defaulted (of which I am one). I'm Just addressing the claim:

"My debt is never sold to a JDB."

 

It *IS* sold to a JDB. Whether the JDB can and will collect, or even attempt to, when confronted with legal and economic realities is a whole 'nother story, I agree. Obviously, that whole industry is modeled on the idea of scaring just enough unsophisticated debtors who do not use Creditboards into paying up something.

If someone sells you a car and doesn't give you the title, did he REALLY sell you the car? When the OC "sells" my debt, he transfers a computer file, a list, of thousands of people who supposedly owe money to the bank. Someone might be on that list and owe nothing to the bank. Bear in mind we are talking revolving credit car debt not a signature loan or a promissory note/car loan. There already lies a problem. When I entered into a credit card contract with the OC, was I part of a list? Why can't the OC transfer my original contract? Or send a letter to the JDB(or to me) telling them(me) that I, tobettercredit, had an unpaid balance and that the balance has been transferred to Midland, for instance? If they did things that way they would make things easier for them and everybody else. But This will NEVER happen because the OC will NEVER want to be exposed to liabilities. Which means collecting revolving debts will ALWAYS be an issue for JDBs.

 

 

Recently I’ve had Synchrony mail me quite a few letters stating they sold my accounts to PRA or Midland.

 

You still can challenge PRA or Midland if they sue you for breach of contract between Synchrony and you. Basically asking them what was in that contract. Most of the time they won't know and will fold.

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Selling a CC debt from the creditor to another is called "assignment" and generally does not require consent of the debtor. It's pretty established law. Otherwise JDBs wouldn't exist.

 

https://en.wikipedia.org/wiki/Assignment_(law)

 

 

That is true. But they often fail to be able to defend the original details of the debt. When challenged on the specifics, they often fail.

 

All that the JDB can swear to is that they purchased a batch of accounts from the OC or another JDB.

 

The current JDB cannot sign any affidavits as to the validity of the original debt or any details as to default or payments, etcs. That is where their case often falls apart when challenged.

 

JDBs are counting on unsophisticated defendants that don't challenge their "account stated".

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Apologize. The case is Nyankojo V. North Star Capital Acquisition in the Court of Appeals of Georgia. This is a quote from the ruling:" A party may assign to another a contractual right to collect payment, including the right to sue to enforce the right. But an assignment must be in writing in order for the contractual right to be enforceable by the assignee. And the writing must identify the assignor and assignee. Exhibit B shows only that Leather World assigned an unidentified revolving charge agreement to an unidentified party.


In My case Midland calls itself an"assignee of Chase" but it has never produced a letter that shows that Chase SPECIFICALLY assigned a contract to Midland. So I told Midland as long as you don't show me a proper assignment contract, in writing, between Chase and you, I won't pay you a dime.

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Yes I understand the practical realities that make life easier for debtors who have defaulted (of which I am one). I'm Just addressing the claim:

"My debt is never sold to a JDB."

 

It *IS* sold to a JDB. Whether the JDB can and will collect, or even attempt to, when confronted with legal and economic realities is a whole 'nother story, I agree. Obviously, that whole industry is modeled on the idea of scaring just enough unsophisticated debtors who do not use Creditboards into paying up something.

If someone sells you a car and doesn't give you the title, did he REALLY sell you the car? When the OC "sells" my debt, he transfers a computer file, a list, of thousands of people who supposedly owe money to the bank. Someone might be on that list and owe nothing to the bank. Bear in mind we are talking revolving credit car debt not a signature loan or a promissory note/car loan. There already lies a problem. When I entered into a credit card contract with the OC, was I part of a list? Why can't the OC transfer my original contract? Or send a letter to the JDB(or to me) telling them(me) that I, tobettercredit, had an unpaid balance and that the balance has been transferred to Midland, for instance? If they did things that way they would make things easier for them and everybody else. But This will NEVER happen because the OC will NEVER want to be exposed to liabilities. Which means collecting revolving debts will ALWAYS be an issue for JDBs.

 

 

Recently I’ve had Synchrony mail me quite a few letters stating they sold my accounts to PRA or Midland.

 

You still can challenge PRA or Midland if they sue you for breach of contract between Synchrony and you. Basically asking them what was in that contract. Most of the time they won't know and will fold.

 

 

Thanks, that's good to know!

I'm currently laying low, accts went bad back in late summer '15, some accts I used my CA address, some I used my WA address.

Doing my best to not poke anyone & just ride it out.

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Apologize. The case is Nyankojo V. North Star Capital Acquisition in the Court of Appeals of Georgia. This is a quote from the ruling:" A party may assign to another a contractual right to collect payment, including the right to sue to enforce the right. But an assignment must be in writing in order for the contractual right to be enforceable by the assignee. And the writing must identify the assignor and assignee. Exhibit B shows only that Leather World assigned an unidentified revolving charge agreement to an unidentified party.

 

 

In My case Midland calls itself an"assignee of Chase" but it has never produced a letter that shows that Chase SPECIFICALLY assigned a contract to Midland. So I told Midland as long as you don't show me a proper assignment contract, in writing, between Chase and you, I won't pay you a dime.

 

 

Yep. This is the rule about enforcing contracts. It has to be between the two parties. For instance, if you pay Joe to deliver a new cement mixer you can't assign the contract to Bill. You have to bring a suit against Joe. However, this does not apply to assignments where the assignment is limited to collection of amounts owed.

 

However, you can assign debts.

 

 

[Cit.]” Scott v. Cushman & Wakefield of Ga., Inc., 249 Ga.App. 264, 265, 547 S.E.2d 794 (2001);  OCGA § 9-2-20(a).  “A party may assign to another a contractual right to collect payment, including the right to sue to enforce the right.   But an assignment must be in writing in order for the contractual right to be enforceable by the assignee.”

 

Such a detail! Must be in writing! Who knew!

 

And apparently the appeals court was getting real picky. "An unidentified revolving charge account to an unidentified party" Apparently they wanted just a tad more evidence than that.

 

Also note there is no requirement that the customer approve or be notified by the seller of the assignment.

 

 

tobettercredit: And from this you somehow figure a creditor can't sell a charge off account to a JDB. They aren't even imposing an onerous burden. It's just common sense that a JDB has to show the debt he is collecting on was actually legitimately purchased.

 

"An unidentified revolving charge account to an unidentified party" doesn't hack it in any universe.

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Apologize. The case is Nyankojo V. North Star Capital Acquisition in the Court of Appeals of Georgia. This is a quote from the ruling:" A party may assign to another a contractual right to collect payment, including the right to sue to enforce the right. But an assignment must be in writing in order for the contractual right to be enforceable by the assignee. And the writing must identify the assignor and assignee. Exhibit B shows only that Leather World assigned an unidentified revolving charge agreement to an unidentified party.

 

 

In My case Midland calls itself an"assignee of Chase" but it has never produced a letter that shows that Chase SPECIFICALLY assigned a contract to Midland. So I told Midland as long as you don't show me a proper assignment contract, in writing, between Chase and you, I won't pay you a dime.

 

 

Yep. This is the rule about enforcing contracts. It has to be between the two parties. For instance, if you pay Joe to deliver a new cement mixer you can't assign the contract to Bill. You have to bring a suit against Joe. However, this does not apply to assignments where the assignment is limited to collection of amounts owed.

 

However, you can assign debts.

 

 

[Cit.]” Scott v. Cushman & Wakefield of Ga., Inc., 249 Ga.App. 264, 265, 547 S.E.2d 794 (2001);  OCGA § 9-2-20(a).  “A party may assign to another a contractual right to collect payment, including the right to sue to enforce the right.   But an assignment must be in writing in order for the contractual right to be enforceable by the assignee.”

 

Such a detail! Must be in writing! Who knew!

 

And apparently the appeals court was getting real picky. "An unidentified revolving charge account to an unidentified party" Apparently they wanted just a tad more evidence than that.

 

Also note there is no requirement that the customer approve or be notified by the seller of the assignment.

 

 

tobettercredit: And from this you somehow figure a creditor can't sell a charge off account to a JDB. They aren't even imposing an onerous burden. It's just common sense that a JDB has to show the debt he is collecting on was actually legitimately purchased.

 

"An unidentified revolving charge account to an unidentified party" doesn't hack it in any universe.

 

tobettercredit: And from this you somehow figure a creditor can't sell a charge off account to a JDB.

Absolutely not. They can sell to each other whatever they want. We live in a free country where people exercise their will freely.

All I am saying is for someone I don't know to show up to me and declare, " you owe me, pay me now", they are going to need to show serious proof.

 

"An unidentified revolving charge account to an unidentified party" is exactly the kind of trash JDBs use to claim that the debt has been assign to them.

That's the sales document they show as proof of assignment. It's all bogus stuff bordering fraudulent.

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tobettercredit: And from this you somehow figure a creditor can't sell a charge off account to a JDB.

Absolutely not. They can sell to each other whatever they want. We live in a free country where people exercise their will freely.

All I am saying is for someone I don't know to show up to me and declare, " you owe me, pay me now", they are going to need to show serious proof.

 

"An unidentified revolving charge account to an unidentified party" is exactly the kind of trash JDBs use to claim that the debt has been assign to them.

That's the sales document they show as proof of assignment. It's all bogus stuff bordering fraudulent.

 

 

It becomes very flaky once it has been transferred the 2nd or 3rd time. The chain of custody between JDBs almost never has any details.

 

At that point they are just selling Excel spreadsheets (for 1% of face value) and the data about an individual debt is just one row.

 

So a debt that was charged off by the OC at $5,000 likely was sold to the 2nd or 3rd JDB for $50.

And the transaction likely was for several thousand accounts.

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tobettercredit: And from this you somehow figure a creditor can't sell a charge off account to a JDB.

Absolutely not. They can sell to each other whatever they want. We live in a free country where people exercise their will freely.

All I am saying is for someone I don't know to show up to me and declare, " you owe me, pay me now", they are going to need to show serious proof.

 

"An unidentified revolving charge account to an unidentified party" is exactly the kind of trash JDBs use to claim that the debt has been assign to them.

That's the sales document they show as proof of assignment. It's all bogus stuff bordering fraudulent.

 

 

It becomes very flaky once it has been transferred the 2nd or 3rd time. The chain of custody between JDBs almost never has any details.

 

At that point they are just selling Excel spreadsheets (for 1% of face value) and the data about an individual debt is just one row.

 

So a debt that was charged off by the OC at $5,000 likely was sold to the 2nd or 3rd JDB for $50.

And the transaction likely was for several thousand accounts.

 

 

Right, bad for them, good for us. When you only pay a penny for a dollar of debt you give up stuff. Like documentation. CFPB Is trying to keep JDBs from reselling to other JDBs and have that written into the contracts the OC makes with the initial debt buyer.

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There were a lot of successful "produce the note" defenses by consumers during the housing bubble when it was common for mortgages to be sold several times down the line. Proper documentation of those sales was almost always lacking.

 

This is not what tobettercredit originally argued, that it is never possible for an assignee to enforce a debt because the debtor "did not enter into a contract with (the new owner)".

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There were a lot of successful "produce the note" defenses by consumers during the housing bubble when it was common for mortgages to be sold several times down the line. Proper documentation of those sales was almost always lacking.

 

This is not what tobettercredit originally argued, that it is never possible for an assignee to enforce a debt because the debtor "did not enter into a contract with (the new owner)".

My basic argument is that JDBs are not assignees in the strict meaning of the term. Therefore it's almost impossible as far as I know for then to defend their bogus claims in court. Then we get into legal discussions about what assignment is or is not. My clear stand is I dispute JDBs falsely calling themselves assignees. They started calling themselves assignees after they could no longer call themselves factor buyers. I think some people misconstrued my position. I know assignment I did not study nursing I studied business where business law is a prerequisite. So I know something about assignment to recognize that JDBs are involved in financial speculations and legal intimidation and not assignments. Midland sent me stacks of paper trying to prove Chase assigned my CO with Chase to Midland. I could see it was MA-manufactured assignment. If I had time I could've sued them for fraud and doctoring court evidences.

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RGB & CNC,

 

Do you think that if a debt has been sold many times over, that one would have a better chance of disputing & the successfully having the account deleted due to lack of supporting documents?

 

Absolutely. An excellent chance. Even if sold only once though that's slightly more iffy. A key thing to do is make sure you ask for validation within the first 30 days after you are notified of the debt. There was a court ruling a few years ago that requires validation to be sufficient to establish the debt. It requires more detail than just creditor and amount which is usually all they provide.

 

Don't let the 30 day response time lapse.

 

Also, for later disputes, see this from the 11'th circuit. This case is where the plaintiff disputed an account as not belonging to them. The JDB did not investigate much of anything let alone sufficiently to establish that the account was actually the plaintiff's.

 

 

"[investigations} ... were insufficient to verify the accounts and that, absent additional proof, [the debt buyer] should have reported the accounts as “cannot be verified.”

 

“When a furnisher reports that disputed information has been verified, the question of whether the furnisher behaved reasonably will turn on whether the furnisher acquired sufficient evidence to support the conclusion that the information was true. This is a factual question, and it will normally be reserved for trial.”

 

The second was ruled a question of fact and thus the appeal's court overturned a summary judgement in favor of the plaintiff since questions of fact are resolved at trial. However, the first was ruled insufficient on it's face and that it should have been reported as "unverified."

 

http://www.insidearm.com/news/00041954-11th-cir-holds-fcra-reasonable-investigat/

Edited by cashnocredit
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