I, like most of the US, have debts. And it is really confusing for me when the lender I'm working with sells my debt to another company. Then all of a sudden I have a loan with a new company that I've never heard of and now I owe them money.
Now, I am stuck in a situation where two people think I owe them money when in all actuality it's for the same loan that they sold to each other. How is this fair for anyone? I didn't sign a promissory note to anyone except my original lender, so why am I paying all these other people?
So, I purpose the following: Make it illegal for a financial instution to sell your debt to another business. Period. No if's, and's or but's.