Results 1 to 6 of 6
  1. #1

    Default Plaintiff No Longer Owns the Debt

    My question involves collection proceedings in the State of: Arkansas

    Plaintiff listed on Complaint: Precision Recovery Analytics, Inc.
    It looks to me like Precision Recovery Analytics has filed suit upon a debt that they sold to another company months before the suit.

    Discovery: Bill of Sale.
    States Account was sold to Collins Financial Services, Inc. (after internet search we found this is the old name for Precision Recovery)

    The affidavit of claim does say about the affiant.
    "I am a duly authorized representative for Plaintiff's successor, Cavalry SPV II"

    The Plaintiff sued 5/2013 and in Complaint.
    5. This account was issued by the original creditor GE Money Bank/ Lowe's Consumer. Precision Recovery Analytics, Inc. is the current owner of the account and purchased the account for good and valuable consideration. The Plaintiff is entitled to enforce the obligation and receive payments due the sum of XXXX, prejudgment interest in the amount of XXXX for a total balance of XXXX, as shown by the Affidavit of Account attached hereto.

    Affidavit of claim
    1. I am a duly authorized representative for Plaintiff's successor, Cavalry SPV II, LLC, and am competent to testify to the matters set for herein.
    7. That the Account was purchased by Cavalry SPV II, LLC on or about 2/xx/2013.

    Bill of Sale
    Sold to Precision in 2009.

    So Timeline is as follows.
    7/2008 Alleged debt defaulted
    2/2009. Alleged debt gets sold By GE to Precision Recovery (Formerly Collins) -(based on bill of sale provided by Plaintiff)
    2/2013 Alleged Account sold to Cavalry - (based on Plaintiff's Affidavit)
    5/2013 Precision recovery Analytics files suit. - (complaint)

  2. #2
    Join Date
    Mar 2013
    Posts
    18,340

    Default Re: Plaintiff No Longer Owns the Debt

    What's your question?

  3. #3

    Default Re: Plaintiff No Longer Owns the Debt

    Bah, I'm sorry I thought I had included it at the top.

    My question: Is this a clear FDCPA violation as the Plaintiff is by their own affidavit no longer the party who owns the debt?

  4. #4
    Join Date
    Sep 2012
    Posts
    1,991

    Default Re: Plaintiff No Longer Owns the Debt

    without knowing what agreements if any are in place are between these companies there is no way to know if they can successfully sue, but no it's not a FDCPA violation in any case.

  5. #5
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Plaintiff No Longer Owns the Debt

    and even if it was, it would not defeat the suit nor provide a defense to the suit. You have to deal with the suit apart from any FDCPA issues.

  6. #6

    Default Re: Plaintiff No Longer Owns the Debt

    As a follow up question.
    In Arkansas would the Plaintiff on the case be something that can change or would the case of Plaintiff 1 have to be dismissed and a new filed with Plaintiff 2?

    Apparently the Plaintiff is in receivership and the Law Firm representing them is attempting to Withdraw on another case, same Plaintiff 1, while going forward with this one and I'm wondering if the debt was sold to another company after the Complaint was filed, but during Discovery no Bill of sale from Plaintiff 1 to possible Plaintiff 2 was produced when asking for all Bills of sale.

    1. Sponsored Links
       

Similar Threads

  1. Settling a Debt: Should I Pay a Debt I Owe if It's No Longer on My Credit Report
    By suitepee in forum Debts and Collections
    Replies: 50
    Last Post: 03-15-2013, 01:45 PM
  2. Eviction Process: Landlord No Longer Owns Property Due to Eviction Sending Messages That He Wil Evict
    By porsche966 in forum Landlord-Tenant Law
    Replies: 1
    Last Post: 05-10-2012, 09:55 AM
  3. Debt Collectors: Debt Collections when You No Longer Have Product
    By theparkerbunch8 in forum Debts and Collections
    Replies: 1
    Last Post: 06-23-2008, 10:43 AM
  4. Debt Collectors: Who Owns The Debt After Assignment?
    By Exhausted in forum Debts and Collections
    Replies: 5
    Last Post: 03-30-2008, 02:37 PM
  5. Debt Collectors: How To Determine Who Owns A Debt
    By JLoh1970 in forum Debts and Collections
    Replies: 17
    Last Post: 02-11-2008, 10:02 PM
 
 
Sponsored Links

Legal Help, Information and Resources