Debt Portfolio

Debt Portfolio

Can a person buy one particular consumer's collection account?

What is the best way to feasibly purchase a single debt account (i.e., my mother's personal bank loan, student loan, credit card debt, car loan, mortgage, etc.), as opposed to purchasing an entire debt portfolio? Is this even possible?

Great idea. Unfortunately, collection accounts are sold as pools or portfolios, and I know of no way for a collection agent (or anyone else) to purchase the collection accounts for a particular consumer.

If a reader has information contrary to my understanding of how the debt portfolio market operates, please comment below.

I hope this information helps you Find. Learn & Save.

Best,

Bill

Bills.com

1 Comments

MMark W., Mar, 2011
The only thing you can do, is find out which agency owns the account, and work out a deal to satisfy said debt. So in essence....yes.