Purchase of previous debt by third party collection agency

The section is displayed above, from the FDCPA. First, what remedies were you seeking under the act. Second, how are you being harassed?

 

I can't say if you fall under this situation, but many consider bill collection to be "harrassment" since they don't want to deal with the situation and want it to go away. The creditor has an absolute right to pursue someone who owes them money, and you'd probably be zealous if you were the one who lent them the money!

Yes, it is possible that they could sue you for the money. After all, you did make an agreement to pay back the money. All the details should be contained within your agreement. Your credit may be affected. While there is generally a period of time in which items are wiped off your credit report (I believe it is 7 or 10 years), you really don't want this to happen.

If they went far over the boundaries of good taste (they call you at 12 am on the loan) then you do have a case for harrassment. If you want it to stop, then you can send them a letter stating that you do not intend to and will not pay the money and that they should quit calling and contacting you. That should stop the calls although it may not help you in the event you go to court, which is more likely once you send the letter.

 

I hope that my post doesn't give you the impression that I am making light of your situation -- I'm sure it is difficult. However, that said, they do have a right to purchase the debt of another and go after you for the debt. They have stepped into the shoes of the creditor. This probably in your agreement you signed with Citibank and I could not see why you would care who collected on the loan from you. There is nothing wrong with the company trying to make some money by purchasing a bad debt, however, they take significant risks that the money which they spend to purchase these loans will never be recouped. Citibank only recovered pennies on the dollar because they decided that you were a bad debt. You have a choice to claim bankruptcy or deal with the repercussions.

As I said in the first post, I haven't yet heard any harrassment. If you don't contest the debt and want the collector, or rather the owner of the debt, to stop calling you then you can send a letter stating that you will absolutely not pay the demand for payment and demand that they cease contacting you. They probably won't spend time collecting and will go after you in court.

With regard to double jeopardy, that only occurs if you are in court in front of a judge and your freedom or property are in jeopardy. I'm not sure how the 7 year rule applies with regard to two different parties who own a debt and each may have a 7 year term. Regardless, you owe the debt but simply don't care to pay for it. The law doesn't usually come to the aid of those who don't abide by the law and here you are not abiding by refusing to pay back any portion of the debt. The reason loan percentages rise are also because of people who don't pay back their debts.

I think that you need to look at this situation another way. For the most part, you will be viewed as the party in the wrong here. You have a debt which you should not have taken out if you couldn't pay for it. It seems as though you haven't paid anything on the debt, e.g. $20 per month. A "credit agency" won't help you since you are a credit risk who has already been a bad debt to someone else and are looking for a security! It is an added cost. You should negotiate directly with the collectors. You can file for bankruptcy (and don't necessarily need an attorney) but you need to take the time and make the effort. You can always contact the local bar association for assistance. Those are your choices and it seems like there are choices you can make and you haven't stated any "harrassment" that has occurred.