The lifecycle of financial receivables and collection of zombie debt

The lifecycle of financial receivables and collection of zombie debt

275-ZOMBIE-DEBT-BANK-FROM-POn January 30, 2012, Historic City News published an article titled, “Check before you pay Asset Acceptance LLC” after we uncovered hundreds of collection lawsuits filed in St Johns County Court by the company who is in the business of buying delinquent debts. Current debt is bought and sold by lenders and investors all the time; but, nearly ten years ago, a cottage industry that purchases final judgments and delinquent debt, at very deep discounts, was born.