Have you received a collection letter or call from a bill collector for a debt you’ve never heard of before?
Consumer debt is often sold by the original creditor to debt collectors or other financial agencies… sometimes the debt changes hands so many times that it is hard for a debtor to know who actually holds their debt.
This makes finding out if the person or company that is contacting you, can legitimately collect it on the debt. There are unscrupulous debt collection companies that will try and collect on a debt that they don’t own.
In order to help combat this problem facing consumers, a company called Global Debt Registry has developed a free service called Debt Lookup.
The great news is that consumers can access Debt Lookup for free to find out who currently owns the title to their debt.
Debt Lookup creates a “title” for the debt much like the title for your car.
If the debt a consumer is looking for is not registered, you’ll either see a notification that the registration is pending, or sent to page with a form letter provided by the CFPB (Consumer Financial Protection Bureau), to respond to the company that claims to be the creditor.
If you find yourself struggling with debt or would like to find out about becoming debt free, call Debthelper at 800-920-2262, or visit @ www.debthelper.com.