Ask Experts Questions for FREE Help !
Ask
    yobinn's Avatar
    yobinn Posts: 2, Reputation: 1
    New Member
     
    #1

    Jul 23, 2008, 09:27 AM
    Credit card debt
    I asked for validation on a debt from a collection attorney and they sent me a letter back stating that they were not going to collect and had returned the debt back to the original creditor. So does this mean that the original creditor will sue now? Thanks
    Diane Carol's Avatar
    Diane Carol Posts: 76, Reputation: 4
    Junior Member
     
    #2

    Jul 23, 2008, 10:38 AM
    Evidently the collection agency feels the debt is "uncollectible"... they possibly have tried many ways to see you pay the debt and feel they would have more time on your file than its worth... to them.
    Your debt is now back in the hands of the original ower. He may decide to sue... possibly in small claims court, if it meets that court's criteria or sue in other means.

    I suggest, if you have honorable intention to fully pay the debt, you make contact with the client and work with him/them for some time and method to accept the responsibility.
    Usually, they might reduce such payments----without added interest---to get the debt paid.

    If this is an attempt to avoid payment of such debt, I wouldn't count on such success... card owners have a long memory.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
     
    #3

    Jul 23, 2008, 05:54 PM
    Quote Originally Posted by yobinn
    i asked for validation on a debt from a collection attorney and they sent me a letter back stating that they were not going to collect and had returned the debt back to the original creditor. so does this mean that the original creditor will sue now? thanks

    It may very well mean that the original creditor doesn't have anything to prove the debt. Doesn't mean the original creditor won't try again either after it finds the documentation or just because they want to give it another try.

    Creditor may not want to pay the Attorney to spend any more time on this.

    The collection attorney may just make the initial approach and then the creditor uses an actual collection agency which charges a smaller percentage.

    Hard to say - could be a lot of things.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Is credit card debt open account debt or a written agreement debt? [ 16 Answers ]

I am currently fighting a credit card debt action filed against me by Unifund. The issue is whether credit card debt is open account debt subject to 3 year SOL in the State of Washington or a written agreement debt subject to 6 years. I asked the same question on another forum and received an...

College Loan Debt & Credit Card Debt [ 1 Answers ]

Answer Received

FICO Credit Score: Maintain a 50% debt to credit-limit ratio on _each_ card? [ 1 Answers ]

I have been advised that I should transfer part of a balance of one credit card to another card in order to maintain 50% debt to credit limit ratio on _each_ card even though my _total_ debt to credit limit ratio is already below 50%. (Most of the debt is on one card for convenience.) I could...


View more questions Search