1. Why aren't the original creditors as agressive as the collection agencies are about collecting their debt. It would seem to me that they would want the money back more than a third party collector?
2. What constitutes real debt validation? Why don't the original creditors give the collectors enough information to constitute proper debt validation. It is like buying a car with three wheels, the package is not complet5e. Guess they rely on the debtor not to know the laws surrounding debt collection. there are time that I don' think the original creditor they can not collect a debt, which is never the truth, they just don't pursue it like the collectors do.
I never had a account until now, today!. I started finding out I had people posting online about me, and some clients and I said ya know I need to start bloggin sum. YEEE HAWWW
Ok so the questions??
1. Why aren't the original creditors as agressive as the collection agencies are about collecting their debt. It would seem to me that they would want the money back more than a third party collector?
~ Big creditors make millions of dollars, they write off the loss on there taxes , and then sell the debt at a discounted rate, at that point its more cost effective for them to cut their losses and let a 3rd party take care of these issues. After all, time is money and universal default ,late charges,over limit fees and 25 to 35% intrest rate increase from 0 apr or 7% pays off well if you have millions of accounts dont ya thank?
2. What constitutes real debt validation? The orginal signed contract
Why don't the original creditors give the collectors enough information to constitute proper debt validation. (Collectors are 3rd party, no ties to the creditor in most cases)It is like buying a car with three wheels, the package is not complet5e. Guess they rely on the debtor not to know the laws surrounding debt collection. there are time that I don' think the original creditor they can not collect a debt, which is never the truth, they just don't pursue it like the collectors do. ~~~Look at a credit report you will see the creditor on 3 bureaus killin tha score, and then ya will see it on 3 bureaus with the collector killin tha score, and if they sell if before 7 years guess what, its on thair again with another collector on 3 bureaus, so you tell me how thats going to work.
Three parties are not allowed to report a debt. So I can see the first two, original creditor and collector, ruining the score but how woudl a third make a difference since they can not legally list. It is my understanding only the recent collector and original creditor can collect. It can't be that it is a new case when it is bought because the older the debt is the less impact. I have gotten loans from a bank after a new collector took over one of mine and they went by the date of the original lender (creditor).
If the first collector sells before 7 years is up , 1 more collector can report. So thats 1 creditor and 2 collectors reporting on 3 bureus, thats major damage on a credit rating!
" Let me help ya close more loans, I can help y'all lasso those bad issues!"
Maybe "why don't you pay your debt?" What brought you out of hiding?
First of all, Love the Logo!!
1. Why aren't the original creditors as agressive as the collection agencies are about collecting their debt. It would seem to me that they would want the money back more than a third party collector?
2. What constitutes real debt validation? Why don't the original creditors give the collectors enough information to constitute proper debt validation. It is like buying a car with three wheels, the package is not complet5e. Guess they rely on the debtor not to know the laws surrounding debt collection. there are time that I don' think the original creditor they can not collect a debt, which is never the truth, they just don't pursue it like the collectors do.
QUestins and so called hiddin..YEEEE HAWWW
I never had a account until now, today!. I started finding out I had people posting online about me, and some clients and I said ya know I need to start bloggin sum. YEEE HAWWW
Ok so the questions??
1. Why aren't the original creditors as agressive as the collection agencies are about collecting their debt. It would seem to me that they would want the money back more than a third party collector?
~ Big creditors make millions of dollars, they write off the loss on there taxes , and then sell the debt at a discounted rate, at that point its more cost effective for them to cut their losses and let a 3rd party take care of these issues. After all, time is money and universal default ,late charges,over limit fees and 25 to 35% intrest rate increase from 0 apr or 7% pays off well if you have millions of accounts dont ya thank?
2. What constitutes real debt validation? The orginal signed contract
Why don't the original creditors give the collectors enough information to constitute proper debt validation. (Collectors are 3rd party, no ties to the creditor in most cases)It is like buying a car with three wheels, the package is not complet5e. Guess they rely on the debtor not to know the laws surrounding debt collection. there are time that I don' think the original creditor they can not collect a debt, which is never the truth, they just don't pursue it like the collectors do. ~~~Look at a credit report you will see the creditor on 3 bureaus killin tha score, and then ya will see it on 3 bureaus with the collector killin tha score, and if they sell if before 7 years guess what, its on thair again with another collector on 3 bureaus, so you tell me how thats going to work.
Three parties are not allowed to report a debt. So I can see the first two, original creditor and collector, ruining the score but how woudl a third make a difference since they can not legally list. It is my understanding only the recent collector and original creditor can collect. It can't be that it is a new case when it is bought because the older the debt is the less impact. I have gotten loans from a bank after a new collector took over one of mine and they went by the date of the original lender (creditor).
1 creditor, sells to 1 collector they can sell before 7 year
If the first collector sells before 7 years is up , 1 more collector can report. So thats 1 creditor and 2 collectors reporting on 3 bureus, thats major damage on a credit rating!
" Let me help ya close more loans, I can help y'all lasso those bad issues!"
www.youtube.com/user/CodyTheCreditCowboy
Hello From Poland
Hello to all ! Great site. I am new here greetings to all from Poland.