Who owns the collection agency and debt management companies?
Filed in Debt Management on Dec.26, 2009
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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December 26th, 2009 at 3:05 pm
No, private companies
December 26th, 2009 at 3:56 pm
No. Each place has different owners but they’re not owned by banks.
December 26th, 2009 at 4:32 pm
Evil people own them.
December 26th, 2009 at 5:18 pm
Private companies who buy the debt and then attempt to collect the monies owed to the original debtor (you).
December 26th, 2009 at 6:12 pm
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.
December 26th, 2009 at 6:28 pm
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.
December 26th, 2009 at 6:49 pm
I would check out http://debtreliefreviews.net/ They have a list of very good debt relief and help companies.
January 30th, 2010 at 5:28 am
If you need a good settlement, you should use error free debt management techniques. You need a debt management company to reduce your credit card bill.
February 2nd, 2010 at 12:27 pm
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KERRI