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  "I'd rather go to bed without supper than rise in debt." Ben Franklin
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TASC

Franklin Debt Relief, LLC is a member of (TASC) The Association of Settlement Companies. This trade association has developed a standardized industry disclosure for consumers.
 


 

Debt Buyer Negotiations
Call Today: (877) 274-1260
  
Learn about
debt relief
  • Reduce debt by up to 40%
  • Be debt free in as little as 12-30 months
  • Lower your monthly payment
  • Make one simple monthly payment
  • Don’t risk your home or other personal property if you miss a payment
  • Don’t pay service fees unless our program saves you money
  • Reduce your stress and get a “New Deal”

Junk Debt Buyers and Debt Settlement

Inevitably, during your debt settlement and negotiation program you will encounter a junk debt buyer. Junk debt buyers purchase delinquent debts and then try to collect the outstanding balance. The difference between what they buy the debt for and what they are able to collect is their profit. The debts are purchased in large portfolios with other delinquent debts, and the price of the portfolio is based on how long the debts have been past due and how many collection agencies have attempted to collect it. The longer the debt has been past due, the less it is worth. The more agencies that have attempted to collect on the debt, the less it is worth. The vast majority of debt portfolios bought on the market consist of credit card debt, followed by automobiles, telecommunications, and retail debt.

How much do junk debt buyers buy portfolios for?

  • recently charged-off accounts directly from the original creditor: 11-16 cents on the dollar
  • accounts that have been pursued by 1-2 collection agencies: 6-7 cents on the dollar
  • debts that are past the statute of limitations: less than 1 cent on the dollar

    How will debt buyers affect my debt settlement program?

    When your account is purchased by a debt buyer, we know that a settlement offer of 40 percent of the outstanding balance will be highly lucrative prospect to the collection agency.

    Who are some common junk debt buyers?

    Asset Acceptance (AAC)
    Sherman Acquisitions/Sherman Financial Group/Alegis
    NCO Group
    Portfolio Recovery Association
    Asta Funding
    Encore Capital Group (parent of Midland Credit Mgmt)
    Allied National/Interstate
    Risk Management Alternatives (RMA)
    JBC & Associates
    Arrow Financial Services (subsidiary of Sallie Mae)
    RJM Acquisitions
    Capital Acquisitions & Mgmt Co (CAMCO)
    Excalibur
    Cavalry Portfolio Services
    Unifund Group
    Phoenix Asset Acceptance
    First Select Corporation
    Collins Financial Services
    Oliphant Financial Corp.
    OSI Portfolio Services

    Want to learn more about debt settlement? Please feel free to call (877) 274-1260 or fill out a form and we’ll contact you as soon as possible.

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