If My Debt Is Sold to a Collection Agency, Do I Still Have to Pay It?

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[DarrenHey]

Everything is contract law. They must prove a valid contract exists, otherwise, why should you pay? Comprehend that and then know how to hold your position.

[JohnDoe-zlpd]

Wrong. When the "debt" is sold the obligation is terminated. The ORIGIONAL creditor which is you, thats another subject, "so called" creditor writes the debt off as bad debt and received tax credits from the IRS. LOOK in Title 15 FDCPA.

[MadManstranded]

Progressive tryna do it to me but I ain’t giving nobody shit 😂😂

[rza]

So because collection agencies been have been around for a long time that means they have a right to do it? Weird flex but okay. Let me break it down like this. If i borrow money for Tom and i don’t pay Tom and Tom hires some goons to get his money i am obligated to pay the goons. No. Tom is suppose to come and sue me. Simple as that

[jonnybreakz]

His information is incorrect. The truth of the matter is that the bank does not actually loan you the money. It is your signature on the original document that provides value to the promissory note to which they then take and sell off and keep the proceeds.


1. once the original creditor sells the debt to a debt collection agency your contract with the oc is done. They have wrote off the debt and sold it off to a dc. they (OC) have been paid. multiple times for the alleged debt


2. The onus is on the DC to make proof of claim that you have a signed contract with them (DC). You back them into a corner by stating that the account is in dispute and by demanding them to verify the debt with a true and certified copy of the credit agreement. with evidence of your wet signature / If they can not produce this. they have no valid claim. A photocopy of a monthly statement does not qualify .


3. never deal with a DC on the phone. Do not make any sort of payment arrangements or promises with the DC because that will then reset the clock on the debt. Always deal with them by letter mail giving them 10 days to provide proof . Request verification of the debt 3 times and if no proof is provided, send them an estoppel if they continue to contact you afterwards You should sue them.


I have done this myself and helped others deal with this scum. They use fear tactics to try and scare you but it's all bark and no bite. They have never once been able to provide the original note or agreement . They will not try and mess with someone that has knowledge, its easier to bully and scare the ignorant into paying.

[cowsarsc]

Collectors have the right to chase you that's true, but they will not provide proof they own the debt which means if you challenge their claim you won't have to pay. Research and try it. I have helped lots of people become debt free this way. And I never charged. I also never miss a payment on my own accounts. Only do this if you genuinely can't pay.

[Tyxxxx]

The short answer is NO you never HAVE to pay a debt. But you are responsible and liable for your debts no matter who the debt belongs to, this is like asking do I have to pay my lights or water or gas bill. Well no, no I don't. But it's still my bill and I still owe it for using the service

[cwvetsch]

cfpb new rules send a debt verification letter to the 3rd party and ask them where your signed a contract with them for your debt. You sign a contract with the card company but not them right?

[dragonore]

I still have a foreclosure from 2015 on my report and the creditor keeps refreshing it, so annoying. The house did eventually get sold to my understanding, so it isn't as if the bank is out that much.

On a lighter note, a different collections, one time I had blood work done and paid the bill, didn't think much of it. Apparently I didn't pay the whole thing, not sure how, but I still owed $5. They literally sent me a letter every week letting me know I owe $5. The money they wasted with postage, to collect $5? Why didn't the company just write if off, seriously FIVE DOLLARS.

[cwvetsch]

If i did not sign that they can sell my debt to someone else and my contract was just with them to pay my debt then i should not have to pay the 3rd party right ?

[ScottysBackYardBBQ]

i heard only if the make contact with you. if they cant reach you they can not collect.

[standbanger]

I come to this video because I'm being chased for a debt that's not mine! Anyway i comment because you say debt collectors have been around for years an if this was the case they would out of business? Problem with that statement is yes your right, they have been around for years but it's only now people are understanding their rights & laws! Debt agency's have just been using ignorance to abuse the powers they think they have & we are now getting wise to these laws!

[BrittBrattBossLady]

So, the clock starts when they start reporting the debt?

[djayberry]

What if you don't owe them I've had them try to charge me for services I've never had and can I sell debt against them cause some companys owe me

[davohsaurus]

So my question is: do medical bills follow this same rule or no? Because I've heard it's a huge hippa violation considering they're selling phi

[vivianwilliams]

Just received mines today im a beginner and i love it, I will get to the crossfit soon thank you

[lovelylyfe]

My realtor said I broke the lease but I didn't they took my deposit. And send it to third party. Do I go to the realtor

[wabajack]

How can I find out how much a collection agency paid for my debt

[classicuniquegifts]

My sprint account went into collections and they have been bought out by T mobile. I recently noticed that it disappeared from my credit report. Do I not have to pay it or will it re appear and that re appearance will hurt my score again?

[marykay]

I know Canada and America are quite different, many are saying don't pay debt collectors but then what must one do?