Notification that a debt is being sold would be ideal as it would afford the debtor the opportunity to negotiate the amount and possibly assist in thwarting any potential negative reporting on one's credit report. If a debtor is afforded the opportunity to negotiate his or her debt for a reasonable amount, perhaps the selling and reselling of debt may be marginalized. More and more consumers have emails and other modes of communication and therefore, it would be in the best interest of all parties to amicably resolve issues. However, should the dispute not be quelled, reasonable arrangements should be afforded to the debtor. Debts as assets is an outrageous concept and it behooves both the debtor and the creditor to "work-it-out". That is in the best interest of all. It begins with information, communication and resolution.
LAWZME
1
Notification that a debt is being sold would be ideal as it would afford the debtor the opportunity to negotiate the amount and possibly assist in thwarting any potential negative reporting on one's credit report. If a debtor is afforded the opportunity to negotiate his or her debt for a reasonable amount, perhaps the selling and reselling of debt may be marginalized. More and more consumers have emails and other modes of communication and therefore, it would be in the best interest of all parties to amicably resolve issues. However, should the dispute not be quelled, reasonable arrangements should be afforded to the debtor. Debts as assets is an outrageous concept and it behooves both the debtor and the creditor to "work-it-out". That is in the best interest of all. It begins with information, communication and resolution.
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