Who are debt collectors?
Debt collectors (bill collectors) in a collection agency try out various means to collect payments from you. When your creditor hires a bill collector, the former retains the right to your account while the collector simply acts on behalf of the creditor. However, when creditors sell off your accounts to a third party debt collector, the latter becomes the legal owner of your accounts. This is when creditors charge off your account. The debt collectors may in turn sell off your accounts to another collector. That is why you may get sudden calls for payment of a very old debt account which is well past the Statute of Limitations (SOL). However, third party debt collectors often harass debtors with their threatening phone calls/letters and illegal practices to collect payments. If you’re interested to know how to fight debt collectors, just take a look at the section below.
