Debt Buyers
The debt buying industry has grown to a 100 billion dollar industry. The industry buys debt for pennies on the dollar and then sues on the full value of the debt. The suits are based on the idea that many consumers will default because they will not recognize the company suing them or cannot afford legal representation. The consumers wrongly think they do not have to do anything to stop the process. When the consumers do nothing, the debt buyers obtain a default or affidavit judgment against them. DOING NOTHING is not the answer for consumers.
Comments