Buy Credit Card Debt For Pennies -

While it is technically legal for an individual to buy debt, it is extremely difficult for a person to enter this market to buy their own debt or the debt of a specific individual.

When a credit card account goes unpaid for approximately 180 days, banks typically "charge off" the debt as a loss for tax purposes. These debts are then sold in massive containing thousands of accounts. buy credit card debt for pennies

Portfolios often sell for 1% to 10% of their face value (e.g., $1 million in debt might sell for $40,000). While it is technically legal for an individual