3 ms·

I think that works only the first time.

• lolinder 3y ago
  Why? The debt issuer has already written the debt off, why do they care whether it's bought by someone intent on forgiving it?
  • zepton 3y ago
    People are less likely to pay their debts if they think their debts will be sold to someone who will forgive it, so the debt issuer's other non-written-off debts will be harder to collect (since now those people know that they might be able to get out of their debts by waiting and hoping they get sold to a debt-forgiver).
    • lolinder 3y ago
      That becomes a problem if debt forgivers become a large percentage of purchasers. It doesn't "only work the first time", it only works as long as you're in a tiny minority, which will likely be forever. The debt issuer won't take notice until the value of their debt starts to drop.
  • PeterisP 3y ago
    The debt issuer would note that they had to write most of that debt off, so the credit score impact will mean that the same borrower will have a much harder time getting another loan.
    • lolinder 3y ago
      Ah, you're interpreting it differently: I took them as saying that you can only buy debt and forgive it once, not that you can only have your debt forgiven once.