> So if the debt can be "bought" for pennies per dollar, why can't it be settled for this amount by the unfortunate people at the end of the bludgeoning stick?

> So if the debt can be "bought" for pennies per dollar, why can't it be settled for this amount by the unfortunate people at the end of the bludgeoning stick? This is basically what an attorney will do for you (especially if you get one before sent to collections). Because of the vagaries of attorneys and creditors, your mileage may vary. I'm guessing the availability of quality legal services is also poorly distributed, compounding the entire problem in the article. I can't help but read these stories and see them as a continuation of problems with redlining and school district funding that are providing a relentless headwind to racial equality. For more frustrating neighborhood disparities: http://www.thisamericanlife.org/radio-archives/episode/512/house-rules http://www.thisamericanlife.org/radio-archives/episode/512/h... Basically any TAL coverage on schools makes me want to pull my hair out.