QUESTION

Am I liable for a debt sold to a third party collection agency - AL

Asked on Aug 03rd, 2018 on Collections - Alabama
More details to this question:
The original creditor from 2015 sold my debt to a third party agency (actually, the debt was sold 3 times to three different companies). I am currently being sued for the debt. I have reviewed the original terms and conditions of the cardholder agreement and nowhere does it mention anything about the debt being sold to a third party and my liability thereafter. It does state that I agree to arbitration with regard to the original creditor and/or a representative of their company. Since the debt was sold to a third party and the Original creditor no longer owns the debt, do i legally owe a collection agency for which i made no agreement either verbally or contractually? Am I responsible even though the original cardholder agreement states nothing as it relates to the debt being sold to a third party and any liability theater? Please advise
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1 ANSWER

These types of cases are very common.  It is perfectly legal to sell a debt to a 3rd party and that 3rd party can then sue to collect.  The good news is that, if handled properly, these types of cases can be successfully defended (and often won) in Court.  Please feel free to call or email me if you would like to discuss your case in detail.  
Answered on Aug 04th, 2018 at 9:46 AM

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