Obligation to JDB?

valley_man0505 · ‎07-25-2008

I recently read some comments somewhere that debtors do not have a legal obligation to pay a JDB. The belief is that the only "contract" was with the OC and once the OC charges it off and sells it to a JDB, you don't actually have a contract with the JDB, and, therefore, are not obligated to pay them anything. This doesn't seem like it could be true--that would make things way to easy for those of us being harrassed by JDB's for charged-off accounts.

Is there any truth to any of this, or is this just an attempt by desperate people to find a loophole that isn't really there?

Anonymous · ‎07-25-2008

I don't believe there is any truth to it.

Chances are, if you read your original contract / terms& conditions/ or whatever you were given, it will say in there that they reserve the right to sell/transfer the debt in the case it becomes delinquent or something along those lines.

I've found it in my contracts before. Look for the fine print.

llecs · ‎07-25-2008

To echo, there's no truth in that. Years ago, I was sued by JDBs (West Asset and NCO, then) and lost! Had to pay every penny and then some.

I've heard the same mentioned at one point too. I think people are believing that once it gets to a JDB, the SOL expired. In general, that is usually the case if you live in a state with a short SOL. But in recalling my records, I've had some bad JDBs chase after my debt within SOL.