why do creditors sell to junk debtors in a chapter 13?
Date: Sat, 02/05/2011 - 02:10
I filed Chapter 13....had 4 accounts with BOFA and one account with Citibank. Looking at my claims....the debts have all been transferred to different companies (E Cast, Candia, PRA). My question is, why would the original creditors sell to these other companies in a Chapter 13? I am making payments...so they would get the money....and if I defaulted on the plan...they can sue me for the full amount? Why would they sell? Also, if I did default on my 13, would would now have recourse...the original creditors or the people that have filed the claims?
The creditor did a lousy job of "scrubbing" the portfolio and ma
The creditor did a lousy job of "scrubbing" the portfolio and made a little extra money off of the sale.