Mon, 07/07/2008 22:49
When collection companies call and harass you it's because they have bought your debt from whoever you originally owed. They pay pennies on the dollar in the hopes that they can collect the full amount and make a killer profit. That is why they tell you you can only make the payments to them, not to who you had your contract with. Now, since they bought your debt, that means they took it upon themselves to pay it off. So now you supposedly owe the debt to them. Now here's my question. If they can not produce a contract with your signature on it, stating that you owe them...the collection agency, then how can they legally hold you to the debt? You didn't ask them to pay off your debt, they did that all on their own. I've heard from many sources, including attorneys, that without said contract the collection agencies can not legaly force you to pay them.They collect simply because they harrass and scare people into paying. Any thoughts on this?