Debts Being Sold Online

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Debts are being sold online through small internet marketplaces, sometimes through social media. These debt portfolios are selling debts for pennies on the dollar, and some for even one-tenth of a penny per dollar. Sometimes they have unencrypted personal information, including names, social security numbers, account numbers and dates of birth. Some of these debts are being sold for as little as $1 to $2. Most of this debt is at least 5 years old. The majority of the debts being sold online are payday loans and credit card debts.

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