How much do collection agencies pay for debt?

By pcgumban | October 13, 2009
frank92612 asked:


What I’m trying to figure out is. If a collection agency is buying a $1,000 debt of mine from a credit card company how much do they actually pay for the debt?

Desiree
Share and Enjoy:
  • Print this article!
  • Digg
  • Sphinn
  • del.icio.us
  • Facebook
  • Mixx
  • Google Bookmarks
  • Live
  • MySpace
  • StumbleUpon
  • Technorati
  • Twitter
This entry was posted in Credit and tagged , . Bookmark the permalink. Both comments and trackbacks are currently closed.

4 Comments

  1. yellow14228
    Posted October 16, 2009 at 4:55 pm | Permalink

    For it.
    The debt the debt is the older the debt the debt is the older the less they pay for it.

  2. bobbynhb
    Posted October 19, 2009 at 12:52 am | Permalink

    I believe it is between .25 – .50 on the dollar.

  3. Credit Guru
    Posted October 19, 2009 at 8:39 pm | Permalink

    The other type is determined by what the companies get between 550 depending on how the sale or discount is collectable good luck.

  4. mrs.izabel
    Posted October 21, 2009 at 9:29 pm | Permalink

    Credit collection agencies don’t buy your debt from the credit card company. Collections work with/for the credit card company. The amount collection agencies get paid depends on what they negotiated with each other.