I’ve seen stories of individuals buying up a bunch of debt for cents on the dollar then just forgiving it. Why can’t this been done on an individual scale?
In: 4529
It can be. You call the person who owns the debt and negotiate it down. Once it goes into collections it gets bundled and resold over and over. It’s cheaper for them for you to just pay a fraction.
Of course it won’t come off your credit report so keep that in mind.
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