Reply #12: Junk Debt Buyers are doing the same thing...

[Blackhatjack]

They buy up for pennies on the dollar old debts that are barred by the statute of limitations(meaning they can never file suit to collect the debt) and begin contacting the individual threatening 'to take action' unless they are paid.

One of the 'actions' many use is they report the debt obligation to credit bureaus even though the debt was incurred over 7 yrs ago. They do this by getting the individual to make any kind of payment on the debt, no matter how small, to revive the debt. This damages the individual's credit, and they begin making negative reports every month and refuse to correct the record without being paid.

Of course this is against the law, but it does not stop them.

This does not even address reports that they threaten to have people arrested within in the hour unless they pay, or tell people 'we have ways of collecting this money tough guy."