Do Continuing Payments Not Transfer After Debt is Sold
My question involves collection proceedings in the State of: Kentucky
Synchrony Bank was the OC and charged off approx. $1500 in mid 2015. Was sold to a CA and I setup a payment arrangement in Jan 2016.
In June the monthly payment did not come out of my account. I called the CA and told them. They said the account had been pulled back. The collection on my credit report also disappeared. Since I had paid $675 through the payment arrangement I believed I was done with the payback or would receive a call/mail notifying me otherwise.
This weekend I received a collection letter from a new CA for the amount of $1517.79 which is what I originally owed. Is it common for the OC to pull an account back and resell to another CA and who seeks the full amount again? What happened to the $675 I paid the first CA? I have all my PNC statements that show the amount and transaction IDs paid to the first CA?
Re: Do Payments Not Transfer when Debt is Sold
You need to dispute the amount to start with. You need to tell, and show if necessary, the new CA that you have made the payment.
You should also contact synchrony to find out if they sold the debt or if they have simply hired the CA to collect for them.
Re: Do Payments Not Transfer when Debt is Sold
Great, thank you for the information! I'll mail the dispute letter today and give Synchrony a call.