If My Debt Gets Sold, Does It Renew My Debt?

Serving Los Angeles, Riverside, Ventura, San Bernardino Counties & Nearby Areas of California

Oftentimes, a debt collection agency will sell debts to other debt collection agencies. Typically, if the debt is 90 days or more past due, agencies may pass the debt or even a whole portfolio of debts along to another agency.

If this happens, you may be wondering if it resets your debt in any way. The reality is that whichever date your charge became delinquent. It will also be the sole date considered when thinking about the statute of limitations on your debt, typically 7-10 years.

Having your debt transferred from one debt collector to another also will not affect your credit history in any way, positive or negative.

Debt collection agencies are regulated by the Fair Debt Collection Practices Act (FDCPA), which requires debt collection agencies to abstain from harsh or abusive debt-collecting practices.

If you are experiencing a debt collection agency that is harassing you or even trying to get you to pay debts that you’ve already paid, you may have recourse to file a lawsuit. Our Riverside unfair debt collection attorneys at The Law Firm of Howard Silver are here to help protect you and get you compensation for your suffering. Sometimes, debt collectors will buy a debt that has already been paid by you, or they’re just far too intimidating in their debt collection tactics. Whatever the scenario, our debt collection attorneys can help!

For assistance with your debt collection lawsuit, please contact The Law Firm of Howard Silver today by calling (855) 341-2611.

Posted Date: 
Monday, March 30, 2015