4 ms·

hey, do you know if it is possible to buy up a specific person debt? or just general debt contracts?

• lifeguard 14y ago
  You could buy a specific corporation's debt but I think consumer bad debt is sold in big blocks of anon accounts until you are the owner.
  • rapind 14y ago
    Otherwise it'd be pretty interesting if you could buy your own debt at a huge discount.
    • sp332 14y ago
      This is sort of how collection agencies work, although the discounts here seems to be even steeper.
      • ptracer54 14y ago
        Most companies that own debt and those who collect for them will take a deep discount on a lot of the debt they purchase/collect. Individuals should be able to routinely settle debt for as low as 20 cents for every dollar they owe. This would be too expensive for Strike Debt to fund.
• tellulah 14y ago
  Yes, it is possible. I have purchased my daughter's debt from a hospital stay. This was 20 years ago but I called the creditor and told them that she was an unemployed college student and they weren't likely to get anything from her, I on the other hand was willing to pay them .20 on the dollar for the debt. They accepted and I paid the debt. (this was not the original creditor but I believe the third, the debt having been sold twice, so they likely made a little money on it and took what I offered rather than take the chance of getting less through another sale or nothing)
• deleted 14y ago
  [deleted]