TO BUY COMMODIFIED DEBT AND CONVERT IT OR RESTRUCTURE IT TO…

I'M TRYING TO BUY COMMODIFIED DEBT AND CONVERT IT OR RESTRUCTURE IT TO POSITIVE TRADELINES ON PERSONAL AND BUSINESS CREDIT FILES

Lawyer's Assistant: What state is this in? And when did the issue begin?

CALIFORNIA

Lawyer's Assistant: Have you consulted a lawyer yet?

NO BUT I KNOW OF COMPANIES DOING THIS

Lawyer's Assistant: Please give me a bit more information, so we can help you best.

WE BUY TIER 3 DEBT FROM DEBT SELLERS AND WHEN WE ASSUME THEM OR TRANSFER THEM TO MY LLC -I WILL RESTRUCTURE THEM WITH POSITIVE INFO - LIKE A CREDIT CARD VISA $5,000 10 YEARS OLD AND IT IS CHARGED OFF AND WE BUY IT AND RESTRUCTURE IT TO A POSITIVE LIKE THE ORIGINAL.

Lawyer's Assistant: Is there anything else important you think the Corporate Lawyer should know?

WE WILL BUY THE OLD DEBT VIA AN ABSOLUTE ASSIGNMENT OF DEBT AGREEMENT FOR THE PURPOSE OF REPORTING THE OLD DEBT IN THE NEW ACCOUNT OWNER NAME MINUS THE NEGATIVE AND ONLY THE POSITIVE FOR THE NEW OWNER

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Answered in 37 minutes by:

6/6/2016

Business Lawyer: Dwayne B.

Dwayne B., Attorney

Category: Business Law

Satisfied Customers: 34,387

Experience: Practicing for over 20 years and helped a number of businesses with litigation.

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Hello and thank you for contacting us. This is Dwayne B. and I’m an expert here and looking forward to assisting you today. If at any point any of my answers aren’t clear please don’t hesitate to ask for clarification. Also, I can only answer the questions you specifically ask and based on the facts that you give so please be sure that you ask the questions you want to ask and provide all necessary facts. Please note: This is general information for educational purposes only and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

Interesting business idea.

I don't see a question in the posts you made although they are quite lengthy and it is possible the website trimmed them off a little.

Is there a specific question with which I could assist?

Business Lawyer: Dwayne B.

There shouldn't be a problem so long as you have a proper agreement to transfer the debt to your name.

You would also want to be sure that you receive all of the documentation in an admissible form to be able to "prove up" the debt. Many debt collectors fail because they don't have anything other than an entry on a spreadsheet to prove the debt.

I'd suggest you get with a local attorney and have them draft your agreements, don't use an online form, as well as the requirements you have as far as documentation they will provide.

If your question has been answered then I'd offer my best wishes to you and ask that you please not forget to leave a Positive Rating so I receive credit for my work.

Of course, please feel free to ask any follow up questions in this thread. I want to be sure that all of your questions are answered. In addition, once you issue your Positive Rating the question will lock open and you can come back to it anytime in the future if you think of something else.