SquareTwo Financial is a leading purchaser of charged-off consumer debt. Charged-off debt is credit in default. In other words, charged-off debt is a financial agreement—such as a credit card or a personal loan—that has not been paid promptly and is past due.
Banking regulators require credit-lending institutions to charge off financial accounts in default. However, default does not release account holders from their responsibility to pay the amount due on their charged-off accounts.
SquareTwo Financial purchases charged-off accounts from credit issuers of all sizes. Once we purchase charged-off consumer accounts, our primary focus is to help Customers resolve their outstanding financial commitments fairly and respectfully. Ultimately, we try to help individuals improve their financial health and become an active participants in our nation’s economy again.