Laws on a company buying and collecting a consumers store credit card debit that was purchased from the compa?

by **nemausus36** » Thu Mar 31, 2011 11:25 am

consumers rights on outstanding debit to a store (Mervyn`s) that is no longer in buissness that has sold there customers credit card debit to another company ( Law office of Budzik & Dynia LLC) that is trying to collect the outstanding debit and is threatning legal action if not paid. i live in california and the cmpany that is trying to collect is in chicago Il

by **abelard29** » Thu Mar 31, 2011 11:30 am

consumers rights on outstanding debit to a store (Mervyn`s) that is no longer in buissness that has sold there customers credit card debit to another company ( Law office of Budzik & Dynia LLC) that is trying to collect the outstanding debit and is threatning legal action if not paid. i live in california and the cmpany that is trying to collect is in chicago Il

Wow, you have a lot going on. But the truth of the matter is if you owe them money you owe them money. It doesn't matter that they went out of business, you still owe money for the debt you incurred.
Best bet know, talk to them and try to work out a settlement agreement.

by **abelard29** » Thu Mar 31, 2011 11:36 am

Where you live and where the company is doesn't matter.
You incurred the debt and owe the money.
Just because the company sold the account doesn't mean you're off the hook.
You still owe the money. You just have to pay a new company.
They have every right to use legal action to collect.
Pay up or loose your credit rating, if you haven't already.

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