http://tomschat.co.uk/blogs/3036/55764/payday-loan

Oncepayday loans debts are written off, they are put into portfolio. Payday loan debts are outstanding amount on payday loans. By finding a payday loan portfolio that you are interested in, you can then bid to purchase the payday loan debts.

To buy a payday loanssign up for an account with a debt clearing house. These type of organizations serves as a middlemen between debt buyers and sellers. Log into your online account to view available debt portfolios. Pay attention to the bid due date and close date on any portfolios that you are interested in buying. you mst be logged into your online account on the debt clearinghouse website to place a bid. Sen a payment in full on the "close date" listed on the sales listing for the debt portfolio. each seller may have a different accepted payment method, so ask any questions about this directly to them.