Author Topic: Can the tables be turned on a JDB?  (Read 15080 times)

0 Members and 1 Guest are viewing this topic.

KFMAN

  • Valued Member
  • Posts: 5133
Re: Can the tables be turned on a JDB?
« Reply #15 on: September 16, 2010 07:55:25 PM »
Another reply from a lawer in regards to this thread. 

no they are buying commercial paper. You can buy a contract as an assignee and then sue on the contract. You cannot buy a violation of the law.

jezter6

  • Valued Member
  • Posts: 49
Re: Can the tables be turned on a JDB?
« Reply #16 on: September 16, 2010 08:27:46 PM »
Assuming you can't buy/sell/trade violations of law, can you attempt COLLECTION of such?

With our ITS letters, we are (as individuals) actings a debt collector attempting the JDB/CA into providing us money allegedly owed to us. Why not farm that out to CA's, much like the OC/JDB types do for a percentage of money collected, etc?

Even if we toss out the litigation rights, I'm still very interested in understanding if one can transfer the alleged violation statutory damages to a collector in an attempt to collect pre-trial (the same thing they do to us).

CleaningUp

  • Valued Member
  • Posts: 10767
Re: Can the tables be turned on a JDB?
« Reply #17 on: September 16, 2010 09:06:08 PM »
It would be impossible for the "purchaser" of violation to assert that he was the aggrieved party. Hear-say evidence is not admissible by either plaintiff or defendant. There is no underlying contract that gives rise to a violation being an asset. It can fly in BK if the trustee wishes to pursue it, but, for the same reasons, they likely will not unless the amount of the claim is extraordinary and the odds of success are very high.

An ITS letter is a notice of the potential for filing action.  It does not get translated into a debt until a judgment is awarded. Again, there is no underlying contractual arrangement.

By hiring a lawyer to prosecute a violation claim, one is "farming out" the violations for collection.


flacorps

  • Valued Member
  • Posts: 1071
  • Author of Debt Hope in Trade Paperback
    • Learn to Solve Your Own Debt Problems
Re: Can the tables be turned on a JDB?
« Reply #18 on: September 16, 2010 09:21:10 PM »
It would be impossible for the "purchaser" of violation to assert that he was the aggrieved party.

He doesn't need to assert that he's the aggrieved party, he just needs to be able to show that he stands in the shoes of the aggrieved party. It's exactly the same as being a JDB, with the added difficulty of really, really needing the actual victim's testimony in many cases (those cases that don't involve receipt of a letter that you have in hardcopy).
"History has taught us that weakness is provocative. To the extent that people see an area of weakness, they will take advantage of it..." - Donald Rumsfeld

http://www.myhopeseries.com

CleaningUp

  • Valued Member
  • Posts: 10767
Re: Can the tables be turned on a JDB?
« Reply #19 on: September 16, 2010 09:33:01 PM »

Point taken.  But how does he give testimony that doesn't get blown out of court?


shotgun7

  • Valued Member
  • Posts: 23
Re: Can the tables be turned on a JDB?
« Reply #20 on: May 27, 2012 07:19:10 AM »
I would like to know, why it is not law that the consumer be given first right to buy the debt, at the same price as it is first offerd to the JDB... that would make everything so much easier...  :vbrofl:

KFMAN

  • Valued Member
  • Posts: 5133
Re: Can the tables be turned on a JDB?
« Reply #21 on: May 31, 2012 05:19:34 PM »
I would like to know, why it is not law that the consumer be given first right to buy the debt, at the same price as it is first offerd to the JDB... that would make everything so much easier...  :vbrofl:
Most are sold in big batches, so a little out of the broke consumers range.

WinningTheBattle2010

  • Valued Member
  • Posts: 697
Re: Can the tables be turned on a JDB?
« Reply #22 on: May 31, 2012 07:45:51 PM »
why not start your own CA or JDB and buy the debts owed by yourself and or friends they let them settle with you for what you paid for it or a fractio above?.   get a group of debtors together and buy their debt cheap.  is that possible?

just a thought.
WTB
I DONATE , do you?
I am not a lawyer, any/all information on my answers should be considered my thoughts only, Not Legal Advice.

KFMAN

  • Valued Member
  • Posts: 5133
Re: Can the tables be turned on a JDB?
« Reply #23 on: May 31, 2012 07:54:00 PM »
why not start your own CA or JDB and buy the debts owed by yourself and or friends they let them settle with you for what you paid for it or a fractio above?.   get a group of debtors together and buy their debt cheap.  is that possible?

just a thought.
WTB
Waiting for you to start.  I have been told the batches start at several thousand dollars but I really don't know.

shotgun7

  • Valued Member
  • Posts: 23
Re: Can the tables be turned on a JDB?
« Reply #24 on: June 01, 2012 05:28:00 AM »
Most are sold in big batches, so a little out of the broke consumers range.

Would not matter, If it was the law, they would have to break it down... will never happen... just saying.

KFMAN

  • Valued Member
  • Posts: 5133
Re: Can the tables be turned on a JDB?
« Reply #25 on: June 01, 2012 07:43:44 AM »
Would not matter, If it was the law, they would have to break it down... will never happen... just saying.
What law would that be?

arnanda

  • Valued Member
  • Posts: 1161
  • Take it or leave it.
Re: Can the tables be turned on a JDB?
« Reply #26 on: June 02, 2012 03:29:29 AM »
@KFMAN, I saw the agreement that OC had with JDB, it's usually a minimum in the million dollar range. 

If you have that, you have to think of other expenses such as:

builiding to do business, automated dialer system, computer collection program, printers, fax, mailing address (po box), toll free number, phone recorder.

Then the other complicated items: being registered as a collection agency (licensed and bonded) with the required states, etc, etc. 
TUN - 811/850 (07-07-2015). EQU - 811/850 (07-07-2015). EXP - 8111/850 (07-10-2015).
Abbreviations 1st Thread
Abbreviations 2nd Thread
Smurfy's Ease of Use

shotgun7

  • Valued Member
  • Posts: 23
Re: Can the tables be turned on a JDB?
« Reply #27 on: June 02, 2012 06:31:38 AM »
What law would that be?

I was just saying, If such a law was to ever be passed...

doodle

  • BANNED
  • Posts: 19
Re: Can the tables be turned on a JDB?
« Reply #28 on: June 28, 2012 10:51:56 PM »
why not start your own CA or JDB and buy the debts owed by yourself and or friends they let them settle with you for what you paid for it or a fractio above?.   get a group of debtors together and buy their debt cheap.  is that possible?

just a thought.
WTB

 :vbrofl: That is soooo funny that you thought of starting your own JDB company and buy back your own debt for a penny on

the dollar. LOL!!.  I wonder if it would work? I must check into this plan. Seriously. That's a good idea. LOL!  :vbrofl:

CleaningUp

  • Valued Member
  • Posts: 10767
Re: Can the tables be turned on a JDB?
« Reply #29 on: June 28, 2012 11:51:35 PM »
Doodle, you're new, so I'll give you a break for not thinking things through.

In order to buy your own debt, you would have to get someone to sell it to you.

For that, you need to find out who owns it.  (Note, the OC will gladly sell you the debt for the amount owed.)

When you find the guy that owns it, he's called a JDB, he will gladly sell you the debt for the amount owed, or whatever you can negotiate to get him to sell it to you.  (Note: That's what happens in collections.)

When you find out who owns it and want to by the portfolio it is in, sure, you can pay pennies on the dollar.  (Note:  When the portfolio has a face value of about $2,500,000, 2.5 cents on the dollar means that you are shelling out $65,000 for your debt because you have to by everything to get what you want.)

The point that I am trying to get you to see is that just because it is an idea, it isn't necessarily workable, or even a good idea.

When your are playing in this ballpark, you will need to be constantly aware of the relationship between good and bad ideas as they relate to your case and your wallet.

Do more reading than latching on to dreams.


 

credit