Yes. Our course will teach you exactly how to post primary tradelines.
When banks have to give over debt to a debt collection agency they lose money, and with the debt being past the statute of limitations debt collectors have a very hard time collecting on the debt. Especially with credit repair companies removing items from credit reports, it makes it even harder. Because now the debt doesn’t matter to the consumer because it’s not on their credit report anymore.
That being said, the creditor, (“bank”), has no problem updating the information with the credit bureaus as long as the terms and conditions suit both the consumer, as well as the creditor. In turn, you get your primary tradeline.
Please reach us at support@buyautodebt.com if you cannot find an answer to your question.
You want to send the documents to the original creditor. They will decide whether or not to update the information with the credit reporting agencies, who will then update the information for the consumers.
That information can be found in our course. You can email us if you’re interested. I will tell you this, the “debt update letter”, is not needed.
Our course has a list of debt collection agencies you can purchase portfolios from, even if you don’t have a business. Not all companies do this, but we have a list that will sell to consumers and businesses alike.
A lot of times people will buy debt from websites like "debt catcher", etc., and the debt turns out to have inaccurate information. Wrong account numbers etc. It's important to make sure you have all accurate information whenever posting debt.
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