Saturday, January 29, 2005
CREDITWRENCH vs. debt buyers
CREDITWRENCH CEO Bill Bauer has advised debtors:
"Only an original creditor has standing to sue in court. A person or company having bought the debt has placed himself in harm's way and has no standing to bring suit."
Once again CREDITWRENCH CEO Bill Bauer has made a grevious error on a matter of law, to this poor debtors detriment.
The fact is, an assignment of rights on a contract binds the obligated party to the new assign, and the assign has legal standing to bring suit to force the obligated party to perform to the terms of the contract.
CREDITWRENCH stating that a debt buyer has no standing to bring suit on a debt is false and misleading.
