Right to know $$ of debt purchase

[Kanchazi]

What is the name of your state? Fl

Is it true I have the right to know how much a CA paid for the debt they bought, which they are trying to sue me for. And if so can I argue that they are using the court to make money on an investment, and not actual loss.

Thank you in advance

 

[TigerD]

What is the name of your state? Fl

Is it true I have the right to know how much a CA paid for the debt they bought, which they are trying to sue me for. And if so can I argue that they are using the court to make money on an investment, and not actual loss.

Thank you in advance

No it isn't true.
And it is irrelevant .

 

[Kanchazi]

This is posted on legal site

Asset Acceptance has to prove YOU owe it to THEM! That is how you beat them. You have a right to see the contract that shows they bought it as well as how much they paid for it. This is essential, because in Florida you can only sue in small claims for what you actually lost, not future value/ damages, etc. If they only paid $5 for the account it is your right to know that, and make the court understand that they are not a creditor, and bought that old charged off debt for an INVESTMENT. How can they use the court to enforce a return on INVESTMENT?

 

[racer72]

Asset Acceptance has to prove YOU owe it to THEM! That is how you beat them. You have a right to see the contract that shows they bought it as well as how much they paid for it. This is essential, because in Florida you can only sue in small claims for what you actually lost, not future value/ damages, etc. If they only paid $5 for the account it is your right to know that, and make the court understand that they are not a creditor, and bought that old charged off debt for an INVESTMENT. How can they use the court to enforce a return on INVESTMENT?

Follow the above advice and you will learn a hard lesson. A debt is like any other transferrable asset, it can be bought, sold, or traded. Just because the asset has changed hands, it does not mean the it is worth less. Also, you can sue for the value of the debt, not just the actual cost. If the above was true, collection agencies would be a thing of the past.

 

[reed]

DEBT BUYERS, MONEY BROKERS They purchase charged-off debts for an average of 2-3¢ on the dollar, pursue you for 100% of it, and are legally allowed to place it against your credit credit. They can enforce collections for as long as ten years.

 

[Zigner]

They can enforce collections for as long as ten years.

Well, that is wrong...and, if you meant "judgments" as opposed to "collections", then it is still wrong.