Quote:
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Originally Posted by a.spirit
This may be a trick from a debt collector:
Examine this letter that states:
Our client, ABC Bank has engaged this law firm to make demand for payment in full on your account reference above.
blah blah blah .................................................. ....................
.......................
This communication is from a debt collector.
Very truly yours,
Atty name
Question: Is this firm a debt collector?
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When you ask "is this firm a debt collector?", are you asking about the attorney or ABC Bank?
You state that the communication from the law firm states that ABC Bank has engaged the law firm [Dewey Cheetum and Howe] to make demand for payment in full on your account.
Does the above statement provide enough info to base a fully informed decision as to whether the law firm is a debt collector, the ABC Bank is a debt collector, or no one is actually a debt collector? I would say making a demand on your account for payment in full is simply 'word-smithing', and none of the above entities are debt collectors, in the true sense.
I can tell you in my neck of the woods, all debt collectors are required to have a bond registered with the Secretary of State. So, if no bond registered, they are simply contractors(not debt collectors), and are trying to get you to contract with them.
I would demand from them more information, before making any decision as to whether to do business with them. Some demands might be to require the bonding company, and bond numbers for there company, the amount of bond that they have, and all principa;ls an agents related to the company.
In addition, are they 'holder-in due course'? Do they have the original contract, which outlines exactly what default powers were agreed to in the original contact? Does the original contract exist? Was it fraudulently conveyed(cashed and extinguished)? Does the original contract meet the Truth and Lending requirements, and was there any Reg Z violations?
This is just for starters. See how fun this can be?
