The Different Types of Debt Collection Rates

The way debt works is very interesting because there's a lot of money to be made, right? So for example, you may get a car loan or a mortgage and within 30 days or 60 days, you notice that you now have a new lender's name. And that's because your debt has been sold at a profit to a new lender who's going to try to capitalize on making their own profit from your interest payment. "I allowed myself to be touched by other people's pain," he says.

Transcript

Play full episode

Remember Everything You Learn from Podcasts

Save insights instantly, chat with episodes, and build lasting knowledge - all powered by AI.

Get the app