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Name Affidavit of Buyer Alabama Form

Name Affidavit of Buyer Alabama Form

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hey guys welcome to this video my name is john watts i'm a consumer protection lawyer and we talk a lot about debt buyers and i thought it might be a good idea to just kind of define what that is and give some examples so a debt buyer is somebody kind of like the name suggests at least that claims to buy debt so we have companies like midland funding midland credit management portfolio recovery lvnv all these different companies out there and they will buy up these huge portfolios of accounts and so they'll say oh well we bought 100 million dollars worth of defaulted credit card debt for 2 million or 6 million or whatever you know 5 cents on the dollar ten cents on the dollar and now we own it okay and so then what do they do well sometimes they collect their own debt okay so like a portfolio recovery will call you they'll write you letters and they'll sue you and then other companies may sort of farm out the actual collection but then they sue in their

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