This week Damon and I talk about debt buyers, companies that purchased charged off debt and attempt to collect them, the problem with the proof that debt buyers have to collect the debt, and the wave of lawsuits and judgments from debts buyers.
We talk about what happens when you are sued by a creditor for a debt, what happens in court and what to do if you are sued.
The article that we are discussing during the show is Most Debt Buyer Lawsuits Foiled By Inability To Prove Debt Owed.
Then we launch into a discussion of debt relief scams and schemes that people fall for when they are in the middle of money problems. The discussion covers the typical scams of debt assignment, novation, vapor money theory, and other scams people fall for. We also provide some really good advice like don’t look for debt help on Craigslist.org.
You can listen to the show below.
Listen to the AnswerDebt Buyers, Getting Sued by a Creditor, and Debt Relief Scams to Avoid - Get Out of Debt Podcast by Steve Rhode