Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News Editorials & Other Articles General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

SWBTATTReg

(24,961 posts)
1. Wow. Clever. Buy bulk debt for pennies on the dollar from the scavengers and wipe the debt legally out.
Mon Jan 22, 2024, 08:38 PM
Jan 2024

I wish all debt was handled / resold like this in bulk. Think of the millions of people who fall into hard times that would benefit. But I do fear abuses in the program. Those that can pay totally legitimately would take advantage of the program, leaving fewer dollars to help those who really need the help. I wonder tho, if this bad debt was resold, if the names of those incurring the bad debt, would still have a bad mark on their credit report, or will the credit reports be updated to reflect the paid off debt?

Recommendations

0 members have recommended this reply (displayed in chronological order):

Latest Discussions»Issue Forums»Economy»New York City plans to wi...»Reply #1