2 Special Words To Know For Debt Settlement, 'Assigned' or 'Sold' [VIDEO]:

DEBT WARRIORS™ Exclusive: 'Assigned' Vs. 'Sold' Debt[Watch Video Here]

In this video, DEBT WARRIOR™ Kasondra Miller, explains 'Assigned Debt' vs. 'Sold Debt'.



A Quick Video Re-Cap: In Case You Decided Not To Watch :(

1. 30 to 90 days after someone has stopped making payments on a Debt, the 1st Party Creditor will Assign the Debt to an outside Debt Collection Agency [CODE NAME: Debt Terrorist]. If the Debt Collector fails to collect the debt, or usually when the Debt is 'Validated', the Debt Collector will send the Debt Back to the Original Creditor as "noncollectable" or "unrecoverable".

2. Once the Debt is sent back to the Original Creditor, the Creditor, will send it to another Debt 3rd Party Debt Collector, or sell the Debt for pennies on the dollar.

Why Do Words Matter In Debt Settlement? Attorney Edward Bashara, told me "in business words mean everything, so be careful of what you say".

For example, if a Debt is Assigned the Creditor hopes to get you to make a Payment to Update or Re-set the Statue of Limitations for Debt Collection in your State. Whereas, if a Debt has been sold, the 1st Party Creditor has lost all hope of collection now or in the future.

Who should YOU seek to Settle the Debt with? That depends on the status the Debt.But here is an easy way to figure it out.

A. If it's been SOLD, you should try to negotiate a Settlement that you can actually pay back.

B. If the Debt has been ASSIGNED you should 'Validate' the Debt with the 3rd Party Debt Collector. Then seek to negotiate with the 1st Party Creditor after the 3rd Party Debt Collector sends the Debt back to the 1st Party Creditor.
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DEBT WARRIORS™ are not Attorneys. The information on this blog, should not be considered legal advice. Please consult an attorney for legal advice.
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