How much money do collection agencies typically pay for charged off debt?

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How much money do collection agencies typically pay for charged off debt?

2007-02-27 07:02:50 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit

3 answers

I'm not sure where Pablo got his info from but it's wrong. First of all most agencies don't buy debt they work on contingency (they keep part of what they collect). Usually if an agency is buying the debt is because it is really old and uncollectable. The amount they pay depends on age and the type of debt, medical, banking, etc. Usually it's pennies on the dollar.

2007-02-27 07:59:36 · answer #1 · answered by Anonymous · 0⤊ 0⤋

The debt is disounted for risk. Less than half and more than a Quarter

2007-02-27 07:07:45 · answer #2 · answered by Pablo 6 · 0⤊ 1⤋

depends on how old the debt is.

2007-02-27 08:40:01 · answer #3 · answered by tryinthis2 4 · 0⤊ 0⤋