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First, if the delinquent party has $2000 lying around for an expense like this, the debt agency is probably better off trying to recover the full sum. It's not
by mseebach 14y ago
First, if the delinquent party has $2000 lying around for an expense like this, the debt agency is probably better off trying to recover the full sum. It's not like they can just loan it to them.
Second, if you're years behind on your debt, you're probably not in the habit of reading letters from debt collection agencies.
Third: the moral hazard: get deep in debt, set aside 20% in a high interest savings account, wait for offer.
- gpvos 14y agoWell, if the banks can have moral hazard, why can't we?
- kalms 14y agoA few years back, when the credit crisis happened, several investment companies bought up debt, and then offered people to pay it off, with half or less, compared to what they owed before that. I don't know if they actually earned anything from that type of investment, but it went on for a while. It was in Denmark.