Report On Risks In Online Debt Sales Market Is Released
WASHINGTON—As part of its multi-pronged effort to inform public understanding of the debt collection industry, the CFPB has released a Report On Risks in the Online Debt Sales Market, which highlights potential risks to consumers’ personal information posed by debt sales online. The Bureau has also released its first-ever national survey of consumer experiences with […] Read More
The Re-Emergence of the Debt Sales Market
In the mid-to-late 1980’s, U.S. consumer debt sales gained a lot of momentum as the three core constituents realized the practice was a win-win-win:• Creditors (mostly banks) were able to recover charge-off losses by selling what they considered to be “uncollectible” debts• Debt buyers were able to purchase portfolios of outstanding debts for pennies on […] Read More