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Confirmed Debt Was Sold to JDB

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    Confirmed Debt Was Sold to JDB

    Ok, just spent 20 minutes on the phone with AMEX. I explained that I have letters from 5 different CA's in the past few months on this debt and wanted to know which CA AMEX sent my debt to.

    After much digging, the rep told me in the notes is the comment, sold to Sherman / Resurgent Capital Services. He also confirmed that AMEX does NOT own this debt anymore. A little digging shows Resurgent Capital Services as a prominent junk debt buyer. The orginal debt was $14K, so they bought it for $1,400 or much less?

    So, atleast I have that straight now. Of the 5 CA letters I received, only 2 are ones that AMEX had listed on my account. So that means the 3 that I received in the last month are a)bogus or b)sent by Resurgent Capital Services to try and collect the debt they bought at a discount.

    Do JDB work with CA's to collect debt or do they do it themselves. To date, I have not received any document from Resurgent Capital Services.

    Not sure what my next move is.

    #2
    Originally posted by I_Suck View Post
    Do JDB work with CA's to collect debt or do they do it themselves. To date, I have not received any document from Resurgent Capital Services.
    JDBs have their own collection agencies.

    For example, Resurgent Capital Services is owned by Sherman Financial! They have their own collection agencies and law firms (Sherman Riddle & Associates). They may also operate as Alegis or LVNV Funding.

    They are one of the largest JDBs and I think they are second only to eCast Settlement in Bankruptcy Debt purchasing.
    Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
    Status: (Auto) Discharged and Closed! 5/10
    Visit My BKForum Blog: justbroke's Blog

    Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

    Comment


      #3
      I am looking at a my most recent letter from Joe Pezzuto law firm that lists like the following:

      Creditor: CACH, LLC
      Original Creditor: American Express

      What or who is CACH, LLC?

      Comment


        #4
        Originally posted by I_Suck View Post
        What or who is CACH, LLC?
        Don't know... but many of the JDBs operate many companies under many different names... just to hide their nefarious deeds I suppose!
        Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
        Status: (Auto) Discharged and Closed! 5/10
        Visit My BKForum Blog: justbroke's Blog

        Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

        Comment

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