Agencies that buy old or illegitimate debts and then try to collect on them are called junk debt buyers. Fortunately for you as the consumer, there are resources you can turn to that will help you deal with junk debt buyers.
Why is the Junk Debt Buyer Calling?
Junk debt buyers make money by intimidating people into paying old debts. Their goal is to intimidate you into paying the debt, whether or not you legitimately owe it. If you have ever dealt with a junk debt buyer, you know that their tactics can be frightening, invasive, and offensive.
What Should I Do if a Junk Debt Buyer Calls Me?
Determine whether you legitimately owe the debt. If you do, then decide how you’ll pay it off. It’s usually better to deal with the original lender if possible than to continue to deal with the junk debt buyer. If you don’t owe the debt or the state of limitations has expired, you can provide the company with copies of documentation that prove you no longer owe the debt.