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Moon phases


estopple letter for Debt Purchasers - please advise

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Post by joedalton Mon May 28, 2018 5:15 pm

Hi, Thank you Lopsum and daveiron for your sample letters which were put to good use for the DCAs.  They worked every time.

After many months of relative peace, I was contacted by Lowell who have recently purchased the credit card debt.  

I will use the updated 3 letters (for debt purchasers) but I need help with the estopple wording please.

Section 3 of the standard estopple letter says:
"Proof of Claim that [THEIR COMPANY NAME] has the legal right and lawful authority to attempt to enforce collection of the alleged liability in the form of Proof of Agency."

As they are no longer agents how should we reword this paragraph?

Or is there another estopple letter specifically for debt purchasers?

Thanks in advance

joedalton
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Post by daveiron Mon May 28, 2018 5:40 pm

Hi,Joe,

Personally I dont bother with the estopple as they seem to ignore them anyway.

You could adapt the existing estoppel ,and change "proof of agency" to valid proof of claim in the form of ALL the documentation requested.
daveiron
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Post by joedalton Mon May 28, 2018 6:05 pm

Thanks daveiron. Can this debt be potentially sold on to another debt purchaser? Just wondering what could happen when we are successful with Lowell.

joedalton
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Post by daveiron Mon May 28, 2018 7:53 pm

Hi Joe,

Yes they can sell as much as they want ,i would imagine that the more times its sold the lower price it would fetch.
Of course ,if the first purchaser cannot collect on it ,what chance will the next one have.
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Post by joedalton Wed May 30, 2018 7:41 pm

Thanks again daveiron, I though so myself but just needed clarification. Much appreciated for everything you have done to date on the forum.

joedalton
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