Consumer Law

Debt Buyer Example - Unifund - Picture Of The Size Of The Industry

By M. Stan Herring

A friend pointed out some interesting things on the Unifund website. We wanted to share these with you to give you an idea of how big these debt buyer companies can be. Here are a few quotes off of the Unifund website:

Since our founding in 1986, Unifund has purchased, sold or otherwise liquidated and managed billions of dollars of delinquent accounts receivable. We have been a pioneer, creating many of the products and procedures that are now commonplace in the maturing Accounts Receivable Management industry. At Unifund, we use proprietary technology and processes in unique ways, enabling us to obtain superior recoveries from previously charged-off accounts.

Every year, Unifund purchases several billion dollars of charged-off receivables from major banks and financial institutions of all sizes.

Here is a link to an industry article discussing, back in 2004, the top five debt buyers including Unifund.

Unifund is in a legitimate business but if Unifund or any other debt buyer has harassed or abused you and you live in Alabama, feel free to contact us for a free consultation on your rights.

Full post as published by Alabama Consumer Blog on May 15, 2008 (boomark / email).