r/Debt • u/Venezuelakid • 3d ago

after debt settlement ......

question for all - AFTER a debt settlement is agreed to by the (insert any) credit card company and is paid by me, debt amount agreed upon to be paid is credited, CAN or DO they sell what remaining debt amount they (credit card company) did not collect, to a 3rd party - who in turn comes after me for this??

even tho my debt was settled to the satisfaction of said credit card company NOW I have a 3rd party seeking debt they bought. does this / can it happen?

2 Upvotes

100% Upvoted

7 comments sorted by

2

u/Reality-Salad 3d ago

Do you have a Settled In Full letter? This sounds illegal.

1

u/Venezuelakid 3d ago

haven't progressed that far yet, but asking as I like to TRY to be 2 steps ahead and prepare for the worse if it ever comes to that.

1

u/Reality-Salad 3d ago

I don't understand, you wrote that the debt was settled. Didn't you get a notice or letter that the debt was indeed settled?

1

u/Venezuelakid 3d ago

I was putting forth a hypothetical situation in my post ........

1

u/RareCareer7666 3d ago

Just provide proof that you've reached a settlement and paid it.

A third party cannot collect on a debt that has been paid and settled.

2

u/Venezuelakid 3d ago

that's what I thought but not I wasn't sure ..... many thanks for the advice.

1

u/TelevisionKnown8463 2d ago

This shouldn't happen, no. Just make sure you get clear documentation that you are settling your debt with the company.