Unifund is a debt collection agency. If they have contacted you, you need the right information to know about them to know how to proceed.
Are you a business owner who has customers who aren't paying? Or are you an individual who needs debt assistance and owes money? The answer to those questions can make a big difference in your overall opinion of companies such as Unifund.
The purpose of Unifund is to collect at least a portion of the money that was owed to a certain company.
Every year most companies have to write off bad debt, which hurts their bottom line. However, a company like Unifund can collect part of the money and take a percentage of it.
For a business, it's often a win-win situation because they get to at least get a portion of the money back, when they had originally feared they wouldn't get any.
What To Do
Sometimes debt collectors break the law by trying to collect debts from people past the statute of limitations.
There are laws in the United States that protect borrowers within a certain time frame. If you think that a debt collector is being unreasonable, you can report it to the Better Business Bureau.
It's often beneficial for companies to act professionally and to abide by rules in order to stay in business. Although the BBB can't instantly solve every problem, it exists to protect individuals from unfair or fraudulent practices.
Unifund has a BBB ranking of "C." A "C" rating is considered to be in the middle - not great, but not absolutely horrendous either. An A+ rating is the best a company can receive, and an F is the worst rating a company can receive.
If you do call the BBB, keep in mind that contacting the BBB alone won't stop the debt collector from calling.
Also, remember that it often takes time to bring these scenarios to an end. Sometimes it can take several months - if not years - to resolve a problem. The whole process can get messy.
In these situations, it's often helpful to talk to a competent attorney and to avoid calls from the debt collector. You can check your caller ID and avoid the call if it's not registered or if you recognize the number.
However, if you do owe the debt and the loan was made within the statute of limitations, you should try to pay it.
You may need to get some debt assistance.
The best way to avoid getting a call from a company such as Unifund is to pay off your debts. Contact a qualified company that can help you consolidate your debts or give you debt advice.
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