Transcript excerpt from a YouTube video (creator: Daniel Rosen) introducing the question of whether an individual can purchase their own debt, noting that debt buyers often acquire charged-off accounts for "pennies on the dollar" and referencing a Yahoo Finance article as a source for further digging. The speaker frames the question as common in comments and intends to investigate feasibility.
So I was seeing this video about how to deal with debt collectors and as I was scrolling the comments I came across this.
Very, very.
Interesting one that was asking the question, can you just buy your own debt? Like debt collectors? You know, debt collectors buy your own debt on pennies on the dollar. And the guy was.
Just like, yeah.
For the amount you owe, genius. But the guy was genuine and so he asked they buy them on pennies on the dollar, why can't you? Freaking genius question. Let's do some digging into this. So I found this article from Yahoo. Finances that says can I buy my own debt for pennies on the dollar?
Here's what it the article says yes, you could buy your own debt. The only problem is people buy debt in bulk. They don't just buy John's debt or Theresa's debt, so most likely it would not be worth it. The best way to deal with this problem is to negotiate with the people that you owe money to in order to have more credit repair tips Follow our account.
