The Ultimate Good Deed?

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Palinka (RIP)
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The Ultimate Good Deed?

Post by Palinka (RIP) » Thu Nov 14, 2013 7:54 am

The Occupy Wall Street activists have bought $15m worth, of mainly medical debt, in order to prevent the debtors from being hounded.
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Mr. Viking
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Re: The Ultimate Good Deed?

Post by Mr. Viking » Thu Nov 14, 2013 1:07 pm

I think the real great thing done here, as stated at the end of the article is highlighting the nature of the debt market. I knew that debts were bought for a fraction of their real price by secondary debt companies. I didn't realize it was bought so cheaply however. assuming it would have been about 20% minimum. 5% is an extraordinary amount though I suppose it reflects the difficulty in collecting the whole of the debt.
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Re: The Ultimate Good Deed?

Post by Oggar » Thu Nov 14, 2013 4:07 pm

That is pretty cool.
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One for the Frog
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Re: The Ultimate Good Deed?

Post by One for the Frog » Thu Nov 21, 2013 4:38 am

Does it mean one can ask his friend to buy his debt, then drink the difference together? Or don't you know whose debt you're buying?

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