How to become a debt buyer

#1

Post by thunderbong » Tue, May 16, 2023, 6:58 AM UTC

Re: How to become a debt buyer

#2

Post by mise_en_place » Wed, May 17, 2023, 7:23 PM UTC

Should be called how to become a bag holder. Case in point - us treasuries. It’s far better to be a debt issuer, especially when you can inflate away the amount you owe each time by debasing the currency the debt is denominated in.

Re: How to become a debt buyer

#3

Post by traceroute66 » Wed, May 17, 2023, 7:25 PM UTC

Yeah, erm, no, just NO.

Unless we're talking about A-grade corporate or government debt. Which isn't guaranteed, of course, but at least its a relatively sensible area to dabble in if you want to play the game.

Anything else, whether "junk bonds" or any of the more "exotic" items listed in this blog post are the sort of thing you should not touch with the proverbial bargepole.

Why ? Because there is a reason those sort of debts are debts...

Remember the 2008 financial crash ? Remember what was a significant part of the cause ?

Yup. That's right.

Initially it was packages of "harmless" mortgage-backed securities and collateralised debt obligations (CDOs).

Then people got greedy and started re-packaging sub-prime loans.

And the rest, as we know, is history.

So, unless you are genuinely, honestly and absolutely certain that you are willing to loose the money you have "invested", which, let's be honest, the majority of people cannot afford to loose the money ... just steer well clear.

Re: How to become a debt buyer

#4

Post by Finnucane » Wed, May 17, 2023, 7:34 PM UTC

Ask yourself: Am I ready to be a bottom feeder on the lowest rung of society, rifling through garbage in the hopes of squeezing some poor schlub out of a few bucks?

Re: How to become a debt buyer

#5

Post by p0pcult » Wed, May 17, 2023, 7:36 PM UTC

[flagged]

Re: How to become a debt buyer

#6

Post by mfwit » Wed, May 17, 2023, 7:41 PM UTC

This somehow feels worse than suggesting drop shipping on Amazon is THE business to be in. Impressive.

Re: How to become a debt buyer

#7

Post by melenaboija » Wed, May 17, 2023, 7:41 PM UTC

traceroute66 wrote: post #3

Yeah, erm, no, just NO. Unless we're talking about A-grade corporate or government debt. Which isn't guaranteed, of course, but at least its a relatively sensible area to dabble in if you want to play the game. Anything else, whether "junk bonds" or any of the more "exotic" items listed in this blog post are the sort of thing you should not touch with the proverbial bargepole. Why ? Because there is a reason those so…

I am not sure your comment adds anything other than what your gut says. This is simply a market with expectations, you can take it or leave it.

A completely different topic is the morality and the role of regulators in it.

Re: How to become a debt buyer

#8

Post by ahoy » Wed, May 17, 2023, 7:42 PM UTC

This is really dreadful, in multiple ways. Hopefully this post gets removed.

Re: How to become a debt buyer

#9

Post by alexb_ » Wed, May 17, 2023, 7:45 PM UTC

It's extremely unfortunate that a lot of our society has bundled together the ideas of "Unethical" and "Profitable" so much that people are attracted to evil industries taking advantage of the poor, because they think it will get them a lot of money.

Can't wait until this shit is pushed onto a bunch of zoomers who are looking for the next way to get rich without doing any actual work.

Re: How to become a debt buyer

#10

Post by ipython » Wed, May 17, 2023, 7:47 PM UTC

Finnucane wrote: post #4

Ask yourself: Am I ready to be a bottom feeder on the lowest rung of society, rifling through garbage in the hopes of squeezing some poor schlub out of a few bucks?

I’m tempted to do this, just to then turn around and send a letter to the debtors saying that I will take no attempts to collect this debt and you do not need to pay.