Dealing With Third Party Debt Collectors
July 3, 2008
Currently, the American penal system doesn’t feature debtors’ prisons. We’re not living in Victorian times. Nowadays, the law encourages timely payment of debt while protecting the people who do owe money from having their lives ruined. Laws exist at the state and at the national level to protect individuals from invasive debt collection practices. These include statutes of limitations, which say that people cannot be prosecuted for failing to pay a debt after a certain amount of time passes. [Read more]
When Debt Rises From The Grave
June 19, 2008
An increasing number of consumers are receiving collection notices about old debt. In most cases these debts are extremely old sometimes decades old and can even include debt that was paid off. So, what is prompting this increasing activity; the chance to make a buck.
There are several companies on the market today that specialize in the purchase of old debt. They are able to buy old debt from lenders for just pennies on the dollar which makes the potential for profit very high. [Read more]
