4 ms·
That sounds like it's not the bank, but some shady player that the bank sold your debt to for .01 on the dollar. If you want to settle the debt, do some resear
by jbooth 11y ago
That sounds like it's not the bank, but some shady player that the bank sold your debt to for .01 on the dollar. If you want to settle the debt, do some research on these players so you don't just throw the money away without getting any credit for it on your credit report.
- vonklaus 11y agocorrect. I also believed I had been sold to a "debt collector". I do not know much about this, and it may be true but I spoke with the bank directly and they said that was not the case and the main switchboard provided the number to the collections office. I confirmed the outgoing wire to chase so it is possible that the debt has been sold but they are still representing it? I did a bit of research but someone on reddit suggested a site that provides credit reports and info about the debt and it doesn't appear to be resold but who knows what "resold" means. Maybe they do it like subprime mortgages and bundle them up or something. If anyone sees this, my advice is find the main phone number of your bank and ask to speak to customer service/ client services so you know you are dealing with them. take as many notes as possible and record the call if you want. They will specify every phone transfer and often you are being recorded and IANAL but if a disclosure like this has been said, you may be able to record them, if unsure announce you are on the call. pay directly to the creditor and get as much info as possible. don't get in massive amounts of debt as it sucks.