Once an account is charged off, the original creditor waives their rights to bring a civil action against you. When a collection company acquires the debt, the consumer (you) is not obligated to perform for them in any manner. The collection company has no legal standing to collect, they have failed to offer you any consideration. Meaning you (the consumer) did not recieve any benefit from this company nor did you consent to the new terms of the assigned contract.
Third party debt collectors are unethical and prey on consumers lack of knowledge as it relates to debt. However, do not worry! With our educational tips and your persistence, you will become knowledgeable and confident; which ultimately equals success.
We have enclosed a sample letter for you to use at your own discretion, to eliminate the negative reporting on your credit profile. Remember, no company or individual can retrieve your credit report without a verbal or written consent from you. If they so happen to do so; you’ve just became a victim of identity theft!