Hacker News Reader

I was thinking the same thing... To make this a better program they should buy someones debt, in the example they bought a $14,000 debt for $500. The person that had the debt removed should pay $1,000 back to OWS. Then OWS can buy 2 more... and so on. Unfortunately, the person that had the debt removed will probably just create more debt for themselves

View on HN

Buying someone's debt and hoping to make more than you paid is what any collection agency does.

I'm interested in knowing if there is a business model in an "eBay or SecondMarket for personal debt" where anyone could buy and sell the debt of other people.

I get the feeling that there is disruption possible in this industry but I don't know enough about it to speculate how it could be disrupted.

Sounds great.

So the mob will start buying debt from targeted individuals and have a "chat".

Reply on news.ycombinator.com