Could It Be That The Creditors Are Already Paid From Their Insurance?

So have you ever called up your credit card company to talk about your account? And when you called, didn’t they ask your name in order to verify that it’s really you, the account holder? Or maybe you enlisted the help of a friend to call the credit card company because you were fed up. Then your friend was asked if she was the account holder. And when she said no, it wasn’t her, they told you that they cannot discuss the account with a third party. They can only talk with the account holder. Unless they get express permission or a Power of Attorney and then they can talk to someone else about your account. Now THIS is very important!

It is important because when a debt collector contacts you about paying a debt, this debt company bought your account information. Do you see what happened here? Banks sell off their portfolios of charged off accounts to those third party debt collection companies. But, these companies don’t by the debt, they buy your account information. And your account information can only be revealed or talked about, once you gave your permission. But you never did, did you?

Something to think about. In the next email you’ll learn what the lender does when the consumer does not pay.