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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?

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Bill's Answer
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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

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  • MW
    Mark,
    Treasure Island, FL,
    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.
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