News for hackers. Stuff that matters.

A comment on Tell HN: Did you know you can negotiate price on many things?. Parent comment

Re:Tell HN: Did you know you can negotiate price on many thi... by hedora on Sunday March 20, 2022 @11:30PM (#30749887)
Why do that, when they can sell the debt to a collections agency that's willing to pay:

(probability of recovery) * (1 - profit margin) * (amount owed)

today, for the right to sue on you behalf?

Note: I think the current debt collection system in the US is terrible, especially for medical debt. I suggest looking at the charity "RIP Medical Debt" if you do too.

At the very least, when selling a debt to a collections agency, the (re)seller of the debt should be obligated to first offer the same price to the person that owes money.

[ Parent | on HN ]
Re:Tell HN: Did you know you can negotiate price on many thi... by webmaven on Monday March 21, 2022 @01:30AM (#30750625)
> At the very least, when selling a debt to a collections agency, the (re)seller of the debt should be obligated to first offer the same price to the person that owes money.

That seems reasonable at first glance, but it would lead to an explosion of people simply refusing to pay and waiting for the 'debt collector price' offer to arrive.

[ Parent | on HN ]