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Re:John Oliver buys $15M in debt and forgives all of it on '... by bko on Monday June 06, 2016 @10:33AM (#11847043)
Yes, he spoke about "zombie debt" in his segment. "Brought back from the dead" is true only if it was dismissed or past the statute of limitations for collection. It's not "brought back from the dead" if you had collectors calling and then they stopped calling and now they continue calling. You still owe that money and you're responsible.

Do you ever wonder why somebody would extend you a 30 day unsecured 0% interest loan (credit card)? Or a 15-25% interest unsecured rolling loan to someone with little or no credit history? You can choose to make policies that make it harder for creditors, but you can't pretend that won't impact the borrowing rate or the access of credit to many Americans. The idea that you can't buy and sell receivables seems silly.

I agree that some of the reasons people collect debt is unfortunate and unjust. But people need to be responsible and we need reasonable laws that prevent harassment.

Re:John Oliver buys $15M in debt and forgives all of it on '... by bayesian_horse on Monday June 06, 2016 @01:34PM (#11848558)
Debt should be resellable, but only with clear protection of both parties. That's impossible for "cents on the dollar" on a spreadsheet. At that point it's hardly even a benefit for the original creditor.

In many cases, creditors should be more picky about whom they lend money too. Especially if they can't afford ethical collection the question becomes: Should this company even be giving credit?