Monday, September 15, 2014
NEW CENTURY FINANCIAL SERVICES, INC., VS. AHLAM OUGHLA/ MSW CAPITAL, LLC, VS. AZEEM H. ZAIDI A-6078-11T4
NEW CENTURY FINANCIAL SERVICES, INC., VS.
AHLAM OUGHLA/ MSW CAPITAL, LLC, VS. AZEEM H. ZAIDI
In these two appeals we consider the proofs necessary for plaintiffs to prevail on summary judgment in an action to collect an assigned debt on a closed and charged-off credit card account.
In considering whether plaintiffs established prima facie proof of their claims of ownership of the defendant's charged-off debt and the amount due the card issuer when it charged off the account, we hold that lack of notice to the debtor of the sale of the debt does not affect the validity of the assignment; the assignment need not specifically reference defendant's name or account number and instead may refer to an electronic data file containing that information; a plaintiff need not procure an affidavit from each transferor in its chain of assignments and may instead establish prima facie proof of ownership on the basis of business records documenting its ownership; and that an electronic copy of the periodic billing statement for the last billing cycle is prima facie proof of the amount due on the account at charge off. Applying those standards to the facts presented on the motions, we affirm one judgment and reverse the other.