An assignment of claim is the sale of a debt: the lender transfers the right to demand repayment to a new creditor, and the contract terms stay the same.
An assignment of claim is a change of creditor in an obligation: a bank or finance company sells the right to demand repayment of a debt to another party, called the new creditor. Such sales are common for overdue consumer loans, and afterwards the debtor usually deals with the new creditor or a collection company it hires.
For the debtor the contract terms do not change: the amount, interest and deadlines stay the same, and the new creditor is bound by all the limits that applied to the original one. If the debtor was not notified of the change of creditor and paid the old one, under Article 516 of the Civil Code this counts as proper performance.
Before paying a new creditor, ask for the assignment document and a written calculation of the debt, and check them against the contract.
In detail, with examples: Debt collectors: what they can do, what they can't and how to protect yourself
Collection company Limitation period Credit history
Spotted a mistake or an outdated figure? Let us know and we will check it against the primary source and fix it.
Write to redaktsiia@wm2.com.ua: what is wrong and, if possible, a source with the correct information. In Gmail or your mail app the page address will already be in the message.
Who may demand a debt, call hours and frequency, prohibitions, servicemen, myths about «listing property», checking the amount, home visits, repayment deals and a sample NBU complaint.