E Partner Net is a debt collection agency that is located in Utah. This company is a family owned business and has over 10,000 active clients.
They deal in collecting unpaid bills and checks. The general public is often unaware of the modus operandi of these debt collection agencies.
Many debt collection agencies are often labeled as junk debt buyers. What this term means is that such debt collection agencies contact creditors and offer to buy their unpaid debts.
But this purchase is done at junk rates, often using ‘cent for dollar’ arrangements. So a debt of face value $100 could be purchased at just 25 cents.
Is not this easy money for the debt collection agencies? The same debt that was purchased at 25 cents will be billed at around $500-700 to you.
This huge margin helps these debt collection agencies to make a sweeping profit even if debtors manage to pay up only a small amount billed to them. But isn’t it unjust to put the debtors through hell to rake in extreme profits?
Debt collection agencies can harass and abuse you and go to any extent to secure their profits. But as a responsible citizen, you need to be aware that none of these scare tactics or emotional harassments is legalized by law. Resist the attempts by these debt collection agencies to bully you. Decline any conversations through phone and ask to communicate through mails, so that you have a written proof of their threats or demands.
Falling into the trap of debt collection agencies is the worst thing that could ever happen to you. These debt collection agencies can tag negative collection reports with the credit bureaus. Most worrisome thing for debtors is that the same debt could be represented repeatedly under various names.
If the original debt was owed to Company A, and your debt collection agency is company B, your credit reports could contain tags
for the same amount from Company A and B and many more debt collection agencies that may have been involved in the process of charge off. All these multiple tagging is going to pull your credit score down to the dumps.