Usually, these accounts are purchased by junk debt buyer for pennies on the dollar from the original lender who wrote off the debt as a loss and tax deduction. (doanlaw.com)
I read that credit card debt can not be collected by junk debt buyers. (rebuildcreditscores.com)
Third - party collectors often have guidelines from the creditor or junk debt buyer on how much they're allowed to settle the account for. (debtsettlement.com)