Buyers often receive only a spreadsheet of account information, sometimes lacking the original signed credit card agreement or complete payment history.
Debt buyers profit if they can collect even a small fraction of the total outstanding balance across the entire portfolio. Can Individuals Buy Debt for Pennies? buy credit card debt for pennies
While it is technically legal for an individual to buy debt, it is extremely difficult for a person to enter this market to buy their own debt or the debt of a specific individual. Buyers often receive only a spreadsheet of account