I have found, on numerous occasions, that the debt collection process allowing firms purchasing debt - for pennies on the dollar - often use intimidating tactics that can easily be considered extortion. Every time a deb t collector purchases an old, out-of-date debt, they re-file the debt with the credit bureau(s). This continues the credit report damage for years - sometimes decades. As a mortgage banker, those persons often find it impossible to secure a mortgage and realize the American dream of home ownership.
TomU
1
I have found, on numerous occasions, that the debt collection process allowing firms purchasing debt - for pennies on the dollar - often use intimidating tactics that can easily be considered extortion. Every time a deb t collector purchases an old, out-of-date debt, they re-file the debt with the credit bureau(s). This continues the credit report damage for years - sometimes decades. As a mortgage banker, those persons often find it impossible to secure a mortgage and realize the American dream of home ownership.
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