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I want to know who is the original creditor? The store I bought a product from or the finance company that is sends the bill?

Jacksboro, TN |

I bought hardwood flooring from a local store; same as cash for 12 mo. After one yr I couldn't pay off and started receiving a bill from GE Bank. I didn't sign anything with them. Now in debt collection, who is the original creditor: the store or GE bank? Thanks.

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Attorney answers 3


I'm guessing that you actually took out a finance agreement with GE Bank - when you signed the paperwork at the store agreeing to the deal, the "creditor" was GEMB. So, they are probably the ones you owe since GEMB paid the store when you took the materials out the door.

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I would be sure to think you signed a finance agreement for the flooring. GE is the creditor if they provided the financing so that is who owned or owns the debt. However, if a collection agency has the debt they are the one who you would likely contact.

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There name should be on the bill of sale or the financing agreement. Probably, they have sold this account to another collector or agency who is trying to collect it from you which is perfectly a legal way. They are stepping in the shoes of the original creditor and have the same rights of enforcement against you and you have the same defenses against them as well. It appears from your message that it is more than likely the GE bank because stores cannot advance the money as they had to filfull lots of requirements for that purposes.

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