Who owns the collection agency and debt management companies?

Can you tell me who owns and runs the collection agencies and debt management programs? Are they owned by the banks and credit card issuers?

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15 Responses to “Who owns the collection agency and debt management companies?”

  1. Phil Says:

    No, private companies

  2. Common Sense Says:

    No. Each place has different owners but they’re not owned by banks.

  3. Jeff Says:

    Evil people own them.

  4. Herr Ball Says:

    Private companies who buy the debt and then attempt to collect the monies owed to the original debtor (you).

  5. Dixie Darlin' Says:

    Dateline had a interesting show about this matter not too long ago.

    Anyone can purchase a bad debt portfolio and set up shop to collect them, the show even had people who had prison records, drug dealers, one guy owned and operate a escort service and he and had his girls calling people, collecting the money.

    This is why there are so many unscrupulous debt collectors.

  6. Ted Says:

    I can buy an unpaid contract from anybody and then try to collect on it. That’s what the “or successors” means in the agreement…it can be transferred to somebody else.

    A lot of times the owner is a lawyer, because he doesn’t have to hire a lawyer to take you to court; he can do it himself.

  7. Sabrina Says:

    I would check out http://debtreliefreviews.net/ They have a list of very good debt relief and help companies.

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