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KnowYourRights, Lawyer
Category: Consumer Protection Law
Satisfied Customers: 23478
Experience:  Experience protecting consumers against unfair, deceptive, or fraudulent advertising, marketing and financial practices.
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I am being sued by a collection agency. court date is

Customer Question

I am being sued by a collection agency. court date is July19, 2016. Regarding credit card. How can I find out how much the collection bought my credit for?
Submitted: 5 months ago.
Category: Consumer Protection Law
Expert:  KnowYourRights replied 5 months ago.

Good morning. I am sorry to say but that information is not something that is public record. The amount which this debt may have been bought for, is between the two parties and they do not have to disclose this. Moreover, the collection agency may have not bought the debt at all and is simply getting a percentage of what they recover. In a situation like this, you can try and settle and make them an offer for much less then what is owed. You can see if they accept it or get a counter offer but there is no way of knowing what they agreement is with the original owner and holder of the debt.

Expert:  KnowYourRights replied 5 months ago.

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