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Who will buy a debt?

I'm interested in finding someone who will legally purchase a debt that is owed to me.

I've called Collection Agencies, and they don't.

The debt is not in arrears, but it's going to take another 5 years for them to pay off. I'd like the money NOW! :)

Any suggestions?

Answer Question
 
GoodyBrook

Asked by GoodyBrook at 3:25 PM on Apr. 30, 2013 in Money & Work

Level 24 (20,116 Credits)
Answers (11)
  • Wasn't there a commercial for that but they take like 40% of it? Be careful!
    ILovemyPaulie

    Answer by ILovemyPaulie at 3:27 PM on Apr. 30, 2013

  • I don't have an annuity that I'm collecting from. Is this what you're talking about, ILovemyPaulie? Someone is making payments to me...
    GoodyBrook

    Comment by GoodyBrook (original poster) at 3:29 PM on Apr. 30, 2013

  • Can the person get a loan to pay you off? Like a home equity loan??
    ILovemyPaulie

    Answer by ILovemyPaulie at 3:31 PM on Apr. 30, 2013

  • Nope. I need to find someone or a business to purchase the debt.
    GoodyBrook

    Comment by GoodyBrook (original poster) at 3:32 PM on Apr. 30, 2013

  • I think the commercial she's referring to is if someone owes you money from a lawsuit, there are companies that will pay you a lump sum, minus a large portion, and then collect the rest of the money owed themselves over time.
    Ballad

    Answer by Ballad at 3:34 PM on Apr. 30, 2013

  • Nothing legit. Next time don't make the deal if you do not like the terms. Just saying.
    These are life lessons we all have to learn.
    There are companies but they will take the majority of what is owe as their collection fee.
    Dardenella

    Answer by Dardenella at 3:38 PM on Apr. 30, 2013

  • Dardenella: That would be fine. Can you point me in their direction?
    GoodyBrook

    Comment by GoodyBrook (original poster) at 4:51 PM on Apr. 30, 2013

  • "It's MY money and I need it NOW"
    That commercial?
    PartyGalAnne

    Answer by PartyGalAnne at 5:23 PM on Apr. 30, 2013

  • No fpr one I do not know who those people might be in your area and two I would not put anyone into those kinds of people's view.
    Dardenella

    Answer by Dardenella at 7:42 PM on Apr. 30, 2013

  • Is it a commercial debt? Factoring companies will by business debts for pennies on the dollar. If it is a personal debt, then take that party to court. If it's not a large amount, small claims will handle it.
    gdiamante

    Answer by gdiamante at 10:03 AM on May. 1, 2013

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