cancel
Showing results for 
Search instead for 
Did you mean: 

Fingerhut accepting payments on a sold account

tag
ThetoriParadox
Frequent Contributor

Fingerhut accepting payments on a sold account

I had an account with fingerhut and it charged off.  According to EQ it reports as Charged off with a zero balance dofd 11/15.  But Fingerhut has been accpeting my payments through the onlne portal on the dates of 6/6, 6/9, 7/14, 7/15, 7/27, 8/4, and 8/15 with my balance on the website lowering each time it posts.  I emailed Fingerhut customer service to ask them to recall the debt and they responded stating it had been sold to Jefferson Captial (who is also reporting on my CR the balance NOT lowering with my payments to fingerhut) and that they need to be contacted regarding the account.  I am confused as to where my money is going.... and how I can either get it back or get some kind of action from Fingerhut. Is there a statute they are violating by accepting payment on a sold account? Any help is appreciated I'd like to get this rectified as soon as possible.  

RE-BUILD 2.0
Venmo Card- Mission Lane-Cap1 Walmart- Amex Optima- Cap1 QS- Cap 1 QS1- NFCU Nrewards Secured- Williams Sonoma- Care Credit- Grain- scores hovering around 644-653
Message 1 of 8
7 REPLIES 7
RobertEG
Legendary Contributor

Re: Fingerhut accepting payments on a sold account

A creditor can either hire a debt collector to attempt collection on a debt, in which case the debt collector only has assigned collection authority, or the creditor can sell the delinquent debt, in which case the debt collector has collection authority via its ownership.

The debt collector can, in either case, report its collection.

 

A creditor can, if they still own the debt, take payment, but they can also refuse to do so, and requrie any payment be made via their assigned debt collector.

Many custormer service reps, when informed that they are not to take or discuss payments with the consumer, assume that the debt is sold when in fact it has not.

 

The creditor cannot take payment on a debt they no longer own, so if they did take payments, they may still own the debt.  If they took payments after they sold the debt, that would not be proper, and the new owner would not be aware of any reduction of the debt.

 

I would begin by calling each party and determining who actually now owns the debt.

The reporting of a $0 balance by the creditor to the CRA implies that they sold the debt, but could have been an inaccurate reporting on their part, and is not definitive as to current ownership.

Whether there would be any civil liability on the part of a creditor who took payment on a debt they did not own would depend upon the circumstances.

You need to first determine the facts.

Message 2 of 8
ThetoriParadox
Frequent Contributor

Re: Fingerhut accepting payments on a sold account

Fingerhut told me that it had been sold to Jefferson Capital.

RE-BUILD 2.0
Venmo Card- Mission Lane-Cap1 Walmart- Amex Optima- Cap1 QS- Cap 1 QS1- NFCU Nrewards Secured- Williams Sonoma- Care Credit- Grain- scores hovering around 644-653
Message 3 of 8
RobertEG
Legendary Contributor

Re: Fingerhut accepting payments on a sold account

It is not uncommon for customrer service reps to incorrectly state that a debt has been sold when it has only been assigned for collection assistance.

Some collection agreements require that all contacts/payments must be made thru the debt collector while the assignment is in force.  Thus, customer service reps are often instructed that they cannot deal with the consumer, which they will misinterpret as it having been sold.

Message 4 of 8
ThetoriParadox
Frequent Contributor

Re: Fingerhut accepting payments on a sold account

I just recieved a letter today from the Account Support Division of Fingerhut stating the same thing, verbatim.  Unsure if they're a more reliable source of information or not, but I have filed a complaint with the CFPB because all of the information I have gathered shows it has been sold and not just reassigned.  

RE-BUILD 2.0
Venmo Card- Mission Lane-Cap1 Walmart- Amex Optima- Cap1 QS- Cap 1 QS1- NFCU Nrewards Secured- Williams Sonoma- Care Credit- Grain- scores hovering around 644-653
Message 5 of 8
Anonymous
Not applicable

Re: Fingerhut accepting payments on a sold account

If they sold the debt they are required to forward payments to the CA. Since it can take 90 days for a CR to update that may be why you have not seen a change.
Message 6 of 8
ThetoriParadox
Frequent Contributor

Re: Fingerhut accepting payments on a sold account

Well that is certainly good to know, so now I am at a standstill of who I should be paying, is one choice better than the other? 

RE-BUILD 2.0
Venmo Card- Mission Lane-Cap1 Walmart- Amex Optima- Cap1 QS- Cap 1 QS1- NFCU Nrewards Secured- Williams Sonoma- Care Credit- Grain- scores hovering around 644-653
Message 7 of 8
Anonymous
Not applicable

Re: Fingerhut accepting payments on a sold account

I am going through the same issue right now. What was the end result of this? I appreciate your help in this matter

Mike

Message 8 of 8
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.