The BuyYourDebts.com online portal is disrupting the entire debt industry by allowing consumers to post offers to purchase their own charged-off unsecured accounts. Now anyone with delinquent personal debt, which they can’t pay off or settle, has another option.

Many consumers find themselves overwhelmed by debts they can’t keep in good standing. Before they know it, their accounts become delinquent and are eventually charged-off by the creditor or lender. Some borrowers might be able to remedy their situation by setting up an affordable payment plan or settling the debt for less than the total owed. However, other borrowers don’t have the financial means to take advantage of those options.

When the delinquent account is charged-off, the next step is to sell it to a debt buyer. The sales price can be as little as a penny, since the debt is pooled with 100s or 1000s of other delinquent accounts. The debt buyer then attempts to collect the full amount owed from the borrower. If they cannot collect, then the debt could be resold to another buyer for even less than a penny; while attempts to collect the full amount owed still continues.

BuyYourDebts’ goal is to provide consumers with the ability to buy their own debt before it is sold to a debt buyer. The focus is on helping consumers with delinquent debt, that’s been charged-off, and they don’t have enough money to pay or settle. Consumers can quickly signup online and post their purchase offers, directly to whoever currently owns their account, for free.