Consumer Law

Video - Can A Debt Buyer Legally Collect A Debt From You?

By M. Stan Herring

No one likes getting calls or letters from debt collectors and in particular from companies that have bought up bad debt - these are called "debt buyers".

Some folks on the internet think it is illegal for companies, for debt buyers, to buy up bad debt. This simply is not true. I don't like it but the fact is that companies can buy bad debt.

Now, whether they can or will prove they own the debt is a whole different story! In well over a hundred trials we have not seen debt buyers prove they own the debt.

So understand that just because a company can legally buy debt is not the same thing as the particular debt buyer you are dealing with being able to prove it owns your debt.

If you have further questions or concerns, feel free to contact us through our website or by calling 205-879-2447.

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Full post as published by Alabama Consumer Blog on May 15, 2010 (boomark / email).