What is the difference between Debt Buyer cases and Original Creditor cases?
An Original Creditor Collection lawsuit is simply a lawsuit brought by the Original Creditor (i.e. original lender or Credit Card Company) and not an entity that purchased the defaulted debt from the Original Creditor or somebody else. These cases may be substantially different than Debt Buyer cases in that the Plaintiff may have the documents and witnesses needed to prove their case. Then again, they may not. Each case is different and each outcome unpredictable. In my experience, an Original Creditor case is much more likely to end in some sort of reasonable settlement than a Debt Buyer case, given the fact that they are more likely to have access to the documents and witnesses needed to succeed at trial.
Related Questions
- Must the creditor (the business or person to whom the original debt is owed) notify me before turning my account over to a collection agency?
- What is the difference between how cases are presented in a court of original jurisdiction versus appellate jurisdiction?
- Whats the difference between the Original Creditor and a Collection Agency?
