What a Debt Buyer Is? · Credit Freedom Society

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19d • Q&A Credit Repair

What a Debt Buyer Is?

How to Shut Them Down the Smart Way!

A Debt Buyer Bought Your Old Account? Here’s How to Shut Them Down (Legally)

If you’ve ever had an old debt suddenly pop up on your credit again, chances are…

It wasn’t the original creditor.

It was a debt buyer.

Let’s break down:

What a debt buyer is

Why they often violate your rights

And how to send one letter that can get them off your credit for good 👇

💼 What Is a Debt Buyer?

Debt buyers are companies that buy charged-off debts from original creditors (like Capital One, Sprint, or medical providers) for pennies on the dollar.

They don’t collect on behalf of the creditor — they own the debt now.

🧠 Examples: Midland Credit Management, Portfolio Recovery, LVNV Funding, Cavalry SPV, Jefferson Capital

🚩 Why Debt Buyers Are a Problem:

❌ They rarely have full documentation

❌ They often report incorrect amounts

❌ They may reset the statute of limitations

❌ Many violate FDCPA or FCRA during collections

❌ They threaten lawsuits but can’t validate anything

🧠 How to Shut a Debt Buyer Down (Legally)

STEP 1️⃣: Don’t Call Them

Never speak to them on the phone — it restarts the clock or can be used against you.

📬 Communicate only by certified mail.

STEP 2️⃣: Send a Debt Validation Letter (Under FDCPA § 809)

You have the right to request:

Original contract

Proof they own the debt

Full payment history

Legal chain of title

✍️ Debt Buyer Validation Letter Template

(Copy and paste this 👇)

[Your Name]

[Your Address]

[City, State ZIP]

[Phone Number]

[Date]

[Debt Buyer’s Name]

[Address]

Subject: Debt Validation Request – FDCPA Section 809

To Whom It May Concern,

I am requesting validation of the debt you claim I owe. I do not acknowledge this debt and demand the following, per the Fair Debt Collection Practices Act (FDCPA):

1. Proof that you own the debt (chain of title from the original creditor)

2. A full payment history, including how the amount was calculated

3. A copy of the original signed contract

4. Documentation that you are licensed to collect in my state

Until you provide these documents, you must cease collection activity and remove this account from all consumer credit reporting agencies.

This letter is a formal dispute. Please respond within 30 days.

Sincerely,

[Your Full Name]

[Last 4 of SSN]

[Date of Birth]

STEP 3️⃣: Monitor and Follow Up

If they can’t validate, send a follow-up to the bureaus demanding deletion