I would agree with you, except that people who sell debt at these crazy low rates are doing so because the person with delinquent debt is so destitute they've given up trying to collect. They sell to people who will go to every single length allowed by the law to harass people with absolutely nothing to their name until they squeeze the last bit of water from the stone of poverty.

This debt doesn't come from people like you and me. They come from people who literally don't understand what debt is and have been fooled into a life of poverty. That's who's being targeted here.