Debt buyers are a special kind of collector of debt owed.
Most debt buyers purchase the right to collect debt from credit card companies. Some purchase right to collect from companies that do installment loans, a few purchase medical debts and other purchase other debts.
What to know: If the company will not agree in writing to request credit report deletions after you pay or settle then you should NOT pay or settle! Why? Your credit scores will NOT go up a single FICO point unless the account is delete.
What to do: If you cannot get the written agreement to delete from all credit reports we do know how to get it! Don’t pay, don’t settle. We might get 100% off the debt and we will get the 3-report deletion or we don’t get paid our deletion success fee. –Dave
The biggest debt buyers in the USA are:
Portfolio Recovery Associates (PRA)
Midland or Midland Funding or MCM or Midland Credit Management