Credit Companies Can Sell Your Credit Card Debt

DID YOU KNOW THAT-When you have an outstanding debt with a credit card company, they’ll sometimes sell this debt to a collection agency or hold the debt but pay a collection agency to attempt to collect. Not only will this hurt your credit, but it brings unwanted collectors that want you to pay up.

Collectors tend to work fast and hard, and most get paid based on commission. This brings up some problems, as many collectors tend to ignore common courtesy or worse, the law. Additionally, some collection agencies will pay their workers per phone call and per letter, meaning that they have high incentives to repeatedly bother you.

Unfortunately, this is money you owe for one reason or another, so getting out of the credit card debt is unlikely unless you claim some form of bankruptcy. Not paying debts is going to put a huge dent against your credit, making it harder to make larger purchases, sometimes rent, and even sometimes may stop you from landing a nice job to help pay off all that debt.

Elizabeth Roberts

Elizabeth Roberts

Liz Roberts and her team are continuously providing information to people who are ready to repair their credit and improve their credit score. Also NewHorizon.org team strives to empower the homebased and small business owners by bringing information that can help them to manage and grow their businesses. Let our 24+ years of business finance experience help you to get the financing you need! CONTACT US if need financing for your business.

We will be happy to hear your thoughts

Leave a reply

NHBS Inc © 2024

NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

Privacy Policy Terms of Use

NHBS Inc © 2022

NewHorizon.org is an independent, advertising supported website. The owner of the site may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. NewHorizon.org has not reviewed all available credit card offers in the marketplace.

Privacy Policy Terms of Use

Business Loans

Consumer Loans

New Horizon
Logo
Enable registration in settings - general