Legal Question in Credit and Debt Law in Georgia

Re: debt

The price a lender (or collector) pays for a debt is between them and the entity selling the debt. It does not typically change the debtors obligations to pay the debt, or change the amount owed. It does sometiems trigger the FDCPA. A debt or contract is an asset that can be sold (just like home loans, accounts receivable, etc.), and it is done many thousands, if mot millions, of times a day at all levels. It is certainly not in the debtors favor that they avoided payment for so long that a creditor had to salvage whatever they could by selling it. My home loan has probably been sold 3-4 times. That does not mean I do not honor my promise and obligation to pay the debt.

Re: debt

Why would you think it's not legal? It's common, and since companies that do that can't collect every debt, they can lose as well as make money.