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> The debt buyers are presumably rational with their pricing. They have to be buying them for pennies on the dollar. Every time collectors harass me, they obv
by jstarfish 3y ago
> The debt buyers are presumably rational with their pricing.
They have to be buying them for pennies on the dollar.
Every time collectors harass me, they obviously want the full amount but if the previous lender couldn't collect it, they don't waste their time on the same approach. They always push for quick settlement as a fraction of the actual balance (25% or so? Been a while).
Whatever they pay for the debt must be substantially less than n% of the balance.
- jncfhnb 3y agoSure. But the fraction ought to consider the probability of repayment is what I’m saying. You shouldn’t be able to consistently profit by making accounts larger and riskier and selling them for higher amounts.
- toomuchtodo 3y agoI agree. I would highly recommend you file a complaint with the CFPB on the matter.