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@percyk Also, I'm not sure where you're from, but this may be a canadian thing if it's true.

@percyk It was explained to me that that is the reason they can buy your debt at pennies on the dollar. Less risk for them that way. Also, the major cc companies recoup some of the losses and don't have to pay for employees to make calls to collect the debt or send out a bunch or paperwork...

@percyk Please, someone, correct me if this isn't true. I've never been through this process, but I've heard that if a debt collection company purchases your debt, they have 30 days to contact you, either through phone or mail, and they need a response. If no contact has been made, then they...