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If a person was in debt and then a collection agency came over. They take some of your possessions then once there on their way someone robs them and the things and cash they confiscated from you are robbed from the collection agency. Who would be responsible for the loss
3 Answers
- babyboomer1001Lv 74 years ago
That's not the way it works. If they were hired by the debtor, then the debtor would have to sue you and with a Judgment against you, there are various ways they can seize your assets, including your car and house. If they purchased the debt, then they can sue you and.... Some things can be repossessed, such as a car. If the car is hijacked after they repossessed it, then tough luck for them. It would still be insured though and you would still owe anything due under your contract.
Source(s): Certified Paralegal, with 25+ years' experience. - BobbinLv 74 years ago
A collection agency cannot rob you or seize miscellaneous property to satisfy a debt, only that property which you specifically put up as collateral for the loan.
