The debt collection industry has grown into a multi-billion dollar business, and in order to remain profitable, collection companies are buying collection account portfolios from companies willing to sell them or commission them to collect on their behalf. This includes auto and mortgage lenders, credit card issuers, cell phone companies, utility companies, and public libraries
Whether you’re applying for loans, mortgages, credit cards or mobile phone contracts, lenders check your credit score in order to assess whether you’re likely to be able to pay the money back. If you have a poor credit score, you may find it difficult to get credit – and you’ll need to rebuild your credit
