BodyButter
Vital Football Legend
There is a story on the Guardian about Occupy buying up random people's debt and absolving them of it. For about $400k they bought $15m worth of debt. Apparently, in the secondary debt market debt is usually sold at about 5 cents on the dollar.
I don't have any personal debt but if I had a £10k credit card bill which I couldn't pay, could I default on the debt and then buy it for £500?
I don't have any personal debt but if I had a £10k credit card bill which I couldn't pay, could I default on the debt and then buy it for £500?