What does that mean?

[jessegirl]

I have seen alot of people saying "maybe they sold the debt to an outside creditor". What does that mean? Why would an outside creditor buy a debt that is in a BK? And what does that mean to the person that is filing a BK?

Sorry, if i sound stupid? But i want to go into this knowing alot. Thanks

[Pinkie86]

Apparently there are scum on this Earth that go around buying Junk Debts, or stuff that the original company did not successfully collect on.

These companies can buy the debt for pennies on the dollar, and try to make a profit off of them. So say they buy a $100 debt. They can buy it for a quarter, and if they get the person to pay on it, they've just turned a nice profit.

[jessegirl]

But if you are going to include that Debt that you have lets says its Am Ex. Cause Pinkie loves them . LOL... and that debt is going to be listed on the creditors list to be discharged and then they sell the debt to one of those companies, How can they try to collect from you if its going to be discharged? Can't they also get in trouble for even contacting you?

[Cali]

If you list the original creditor and it has been sold, the company that bought it can't collect from you.

[jessegirl]

OK i see. If if they are listed on the BK then even if its sold they can never collect or sue me.

[jessegirl]

Oh by the way, is that legal for them to try to collect from you once its discharged?

[Cali]

If the debt is discharged they can't collect.

[AngelinaCatHub]

good for you Cal. Greetings.

[Pinkie86]

But if you are going to include that Debt that you have lets says its Am Ex. Cause Pinkie loves them . LOL...

LOL!!! You have no idea. ;)