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how many times can a charged off debt be sold?
I have an old charge card debt that was charged off, and new collection agency is trying to collect it, from what I know, it is pointless to pay off a charged off debt that is 5 - 7 yrs old, and why is this agency buying these debts?
Asked by
earthmom56
9 months ago
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I don't believe there is a limit. It is always a case of ecomics. If they buyer is willing to pay and the old company, can't collect they will often resell it.
hardeight 9 months ago
I will point out that if legal action is taken by the company that bought your debt, it is possible for them to file suit and extend the drop-off period from 7 years to a full 10. Be aware of that.
scamps218 9 months ago