http://www.debtguru.com/credit/what-you-need-to-know-when-a-debt-collector-comes-calling Debt Management Program and free, non-profit credit counseling Tue, 11 Jan 2011 02:24:27 +0000 hourly 1 http://www.debtguru.com/credit/what-you-need-to-know-when-a-debt-collector-comes-calling/comment-page-1#comment-730 Issac Putz Mon, 26 Jul 2010 05:48:15 +0000 http://www.debtguru.com/?p=657#comment-730 One thing people forget is that once they are over 6 months late, it can not get much worse. They might settle debt all on their own. At that time original debtor probably sold the account already to "debt collector" for pennies on a dollar. If you have $1000 balance, after 6 months it will around $1450 with fees, but original creditor sold it for less than $400. So you think about it next time you wish to pee against the wind. One thing people forget is that once they are over 6 months late, it can not get much worse. They might settle debt all on their own. At that time original debtor probably sold the account already to “debt collector” for pennies on a dollar. If you have $1000 balance, after 6 months it will around $1450 with fees, but original creditor sold it for less than $400. So you think about it next time you wish to pee against the wind.

]]>