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Money and Finances
Reply to "Outstanding Debts from 199...????"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You older now, you should pay. In your heart you used the money therefore you owe it.[/quote] The debt has very likely already been sold to a bulk debt buyer. Let's say OP owed $10,000 on some credit card - a bulk debt buyer would buy that debt for pennies on the dollar and then would go about trying to collect it themselves in order to make a huge profit. OP isn't paying the debt at this point - the credit card company has already sold it and written it off. OP would be paying the bulk debt buyer who would then walk away with a massive profit even if OP settled for $5000. It's a racket and I wish people knew their rights in respect to these matters.[/quote] I like you, PP. Let me guess, you work for FTC or CFPB. [/quote]
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