Can WACCA change the debt collecting industry through its actions?
WACCA has been advised that the current practice of selling an original debt to a debt purchase company may well be regarded as an abrogation of the responsibilities of the original credit provider and, in some cases, may render the assigned debt to be unenforceable. WACCA’s external lawyers will advise. WACCA also believes that the practice of selling and purchasing debt may cease in the future with the collection of original credit reverting back to the previous practice, with either the original credit provider collecting direct or engaging the service of debt collecting agencies. When this happens, WACCA will have achieved one of its objectives in changing the practice and possibly the legislation.
