Debt Re-aging Dangers: Use Caution When Contacted About Old Past-Due Bills

The Federal Trade Commission has just cracked down on debt collector Asset Acceptance LLC for misrepresenting itself when trying to collect old debts. But this story is much bigger than just one company. There is an entire industry out there, called the debt-buying industry, that you may not know about. Sounds weird, but your old, unpaid debts have value and can be sold to other companies. These companies buy your old debt for a fraction of what you owe in hopes that they can collect the whole...Full Story
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