Who are Asset Acceptance, Unifund CCR Partners, and LVNV Funding?
Asset Acceptance, Unifund CCR Partners, and LVNV Funding are three of the biggest debt buyers in the collection industry. Other debt buyers include Midland Funding, Cavalry Portfolio, Crown Asset Management, and Palisades. A debt buyer is a company that purchases delinquent consumer accounts from original creditors such as Capital One, HSBC, Discover, and Wells Fargo. The debt buyer purchases the accounts for a tiny fraction of the balance and then attempts to collect the entire balance from the consumer. Debt buyers file thousands of lawsuits and obtain thousands of default judgments each month. They are then free to garnish people’s bank accounts and wages, and as a result, collect millions of dollars. This leads to huge profits, even in the current economy. But debt buyers have a dirty little secret: they can almost never prove their case in court. Because they didn’t originate the debt, they are at the mercy of the original creditor to provide them with the documents, such as credi
Related Questions
- Does ISTPCanada expect to get a copy of the IP agreement among the partners? Should the agreement be signed before submission of the full proposal or only after the funding has been confirmed?
- Who are Asset Acceptance, Unifund CCR Partners, and LVNV Funding?
- Do The Goodwill Partners receive any government funding?
