Elderly Couple May Be on the Hook for Adult Son's Medical Bills

So if the debt is validated even though it was sold, it is owed?

Here’s where I expect crickets.

61 posted on 02/25/2015 4:24:41 PM PST by AppyPappy (If you are not part of the solution, there is good money to be made prolonging the problem.)

So if the debt is validated even though it was sold, it is owed? Here’s where I expect crickets.

If the debt is validated, then it wasn't sold, by definition - it was legally transferred through some other administrative process. The definition of a creditor is one who hold a valid debt. The definition of a debt collector, in part, is that they are specifically not the creditor of the debt they are claiming to have the authority to collect, because the creditor is the one who sold them TITLE to the debt - not the actual debt itself.

In accounting, (which I suggest you study), debts are often settled by less than their marked value and then written off as partial losses for tax purposes. Once that is done, there is no more debt. If that settlement process consisted of the sale of the title of the debt to a third party, the original debt instruments are not transferred because by receiving payment the actual debt is settled, and thus there is no debt left to transfer.

Try to keep up.

62 posted on 02/25/2015 4:43:48 PM PST by Talisker (One who commands, must obey.)

You are being obtuse. Enjoy being wrong.

63 posted on 02/25/2015 4:58:45 PM PST by AppyPappy (If you are not part of the solution, there is good money to be made prolonging the problem.)

You are being obtuse. Enjoy being wrong.

64 posted on 02/25/2015 5:42:01 PM PST by Talisker (One who commands, must obey.)

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