Legal Question in Business Law in Florida

How can it be legal for a debt buyer to buy a debt that I owe to a credit card and then demand payment from me when I had no previous relationship to this debt buyer?

Asked on 3/14/23, 11:41 am

2 Answers from Attorneys

David Slater David P. Slater, Esq.

Yes it is legal as long as they have an assignment of the debt and bill of sale. They usually accept a lower lump sum payment or will work out a payment schedule with you.

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Answered on 3/14/23, 11:49 am
Edward Hoffman Law Offices of Edward A. Hoffman

Most commercial debts are transferrable at the creditor's option. This means a transfer does not require the debtor's approval. The transfer doesn't increase the amount of the debt or create harsher terms for the debtor. The buyer obtains the same rights and obligations the seller had. But the terms of most credit card debts can be changed upon notice from the creditor. When a buyer becomes the new creditor, it might choose to exercise those rights in ways that the seller hadn't.

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Answered on 3/14/23, 1:02 pm

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