This catastrophic mistake has wrecked my credit score, cost me the property purchase I have been saving my whole adult life for, and left me financially paralysed.
The impact on his credit score could leave him unable to borrow money, take out a credit card or even apply for a mobile phone contract.
Some unrecoverable debts are sold to acquisition companies which pay a fraction of their value, then deploy assertive tactics to identify the likely debtor and claim the full sum.
A stranger's bill can be passed in their name down a chain of companies until they reach the courts, without them knowing anything about it.
Collection
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