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Good morning all.
The link to this story BBC, today, online:
http://www.bbc.co.uk/news/business-29505582
This reported approach, in the US, to buying and selling debt is very interesting. Have a read on the web link above.
The key questions is this - if debt can be sold to, say a fictional 'John Smith Debt Co.' for pennies in the pound, why are we not setting up a national UK company, to purchase debt at these special rates' and then write it off; there must be something in this worth serious further study.
For instance the sale Student Loans Company debt previously, the HUGE discount to the buyer, but the ongoing rates (and business practices of debt purchasers) towards original borrowers is clearly unacceptable; it is unjust and ultimately will (indeed is) be rebelled against in large number.
No doubt we will know if this US concept is a serious opportunity to counter the current big debt purchaser players in the UK, as soon as they or their supporters seek to put in place a legal hurdle or two to prevent some new competition, competition which looks to promote greater social justice and hopefully liberation from the so many of debt purchasers who currently rule and destroy so many people's lives.
The link to this story BBC, today, online:
http://www.bbc.co.uk/news/business-29505582
This reported approach, in the US, to buying and selling debt is very interesting. Have a read on the web link above.
The key questions is this - if debt can be sold to, say a fictional 'John Smith Debt Co.' for pennies in the pound, why are we not setting up a national UK company, to purchase debt at these special rates' and then write it off; there must be something in this worth serious further study.
For instance the sale Student Loans Company debt previously, the HUGE discount to the buyer, but the ongoing rates (and business practices of debt purchasers) towards original borrowers is clearly unacceptable; it is unjust and ultimately will (indeed is) be rebelled against in large number.
No doubt we will know if this US concept is a serious opportunity to counter the current big debt purchaser players in the UK, as soon as they or their supporters seek to put in place a legal hurdle or two to prevent some new competition, competition which looks to promote greater social justice and hopefully liberation from the so many of debt purchasers who currently rule and destroy so many people's lives.
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