Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

General Discussion

tinrobot

(10,885 posts)

11. Form a corporation...

Reply to drm604 (Reply #1)

Sat Nov 10, 2012, 06:03 PM

Nov 2012

Corporations buy debt all the time.

Once you've purchased the debt, liquidate the corporation.

You would have to pay for incorporation fees, but that can be pretty cheap if you pick the right state.

Edit history

Please sign in to view edit histories.

21 replies

= new reply since forum marked as read

Highlight:

These Guys Want to Buy Up Your Debt and Set You Free [View all] octoberlib Nov 2012 OP

So can individuals buy their own distressed debt? drm604 Nov 2012 #1

excellent question nt grasswire Nov 2012 #2

I hope somebody answers this. limpyhobbler Nov 2012 #3

I will try TomClash Nov 2012 #4

Debt collection agencies buy debt for cents on the dollar.... Sekhmets Daughter Nov 2012 #15

Form a corporation... tinrobot Nov 2012 #11

A better plan would be to go to the occupy group and pay them to buy your debt. Sirveri Nov 2012 #21

I can't believe that the law hasn't been changed in the two hours since you posted this Orrex Nov 2012 #5

Just donated !! RustyWheels Nov 2012 #6

It is femrap Nov 2012 #12

This message was self-deleted by its author Roland99 Nov 2012 #7

The FedGov should buy all the student loan debt at rockbottom rates then forgive it all. JaneyVee Nov 2012 #8

Wouldn't that be incredible? A student loan debt jubilee. Flaxbee Nov 2012 #9

+150 billion limpyhobbler Nov 2012 #16

Wish I could rec this 35 times. And SO THERE truedelphi Nov 2012 #10

I have femrap Nov 2012 #14

Great idea! defacto7 Nov 2012 #13

I would get in line. knitter4democracy Nov 2012 #17

K&R. (nt) Kurovski Nov 2012 #18

wow. big thinking. HiPointDem Nov 2012 #19

K&R! smirkymonkey Nov 2012 #20