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However I don't know of any credit card banks that actually file a lawsuit. It will always be a collection agency that sues. You just file a Request for Production and have them turn over their agreement with the credit card bank. If they do not have the explicit right to sue, then they cannot.
If your debt has been sold by the credit card company to a junk debt buyer, and you can tell by looking at your credit report, then you still file a Request for Production and obtain the sale contract.
More likely than not, the Junk Debt Buyer actually purchased the debt through a collection agency that never had the right to sell the debt.
So 1st I need to know if my debt was sold to a collection agency or a junk debt buyer.
No, debts are assigned to collection agencies.
Debts are sold to junk debt buyers.
Quote:
Originally Posted by Dbatiste
Once I find out I ask the company who bought my debt to send me their "sale contract"?
If you look on your credit report, the credit card company will have a tag-line say the debt was sold.
You can ask, but they don't have to give it to you and they won't. Besides, asking could be construed as a voluntary admission that the debt is yours.
After they file a lawsuit, you can file a Request for Production and have them turn over any documents related to debt, such as copies of bills; charges; payments; interest accrued; fees accrued; etc etc etc plus the terms of the contract.
If they can't provide that they'll have a very hard time proving you owe any money.
The fact that they claim you owe money isn't proof.
Quote:
Originally Posted by Dbatiste
What am I looking for in the contract?
Who actually sold the debt. Whether they have the legal right or standing to file suit; etc etc.
On another financial forum I read, I've seen recommendations to avoid Capital One credit cards because they'll file a judgment against you if you default on the debt. I don't know if other banks do that or not.
On another financial forum I read, I've seen recommendations to avoid Capital One credit cards because they'll file a judgment against you if you default on the debt. I don't know if other banks do that or not.
No, no one files a judgment and Capital One NEVER sues.
Yes, I know if you go on-line and search the records of the county clerk of courts you will see the name Capital One.
But I assure you they are not the ones filing the law suit. The Plaintiff is always going to be a collection agency or a junk debt buyer filing suit in the name of Capital One.
There's actually a legal question about that, especially if a junk debt buyer is filing suit.
If you are sued and you are properly served and you do not file an answer to the Complaint or you do not show up in court on the appointed date and time, then they may file a Motion for Default and obtain a judgment in that manner.
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