Did you know that a third party debt collector can purchase your delinquent aged debt from the original creditor for as little as twenty-five cents per one hundred dollars? That is correct, one quarter per $100. Purchasing a $400 debt can cost a debt collector $1. In turn, the original creditor will make a profit of $1, and write the debt off as a loss on it's taxes, or possibly file an insurance claim on the loss. Meanwhile, the debt collector will attempt to collect this debt from you for hundreds of dollars over the amount of the original debt. That is where my Validation/Cease & Desist and Declaration Form comes in. These are powerful tools in stopping unscrupulous debt collectors in their tracks.
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