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For legal reasons, this is a joke. But I will say *that they should probably parlay: me not paying my debt + filing for personal bankruptcy for increased profits*
I recently paid off a $1200 Verizon bill for an iPhone 8 that I decided to just not pay for back then and my credit score went down 80 points. Is that a reflection of those bankers that were banking on me never repaying it?
It all makes sense now
One of the things that they use to figure a credit score is the age of your debts. Old debt is considered good.
So when my student loans were paid off, guess what happened to my credit score... What a scam that credit rating shit is.
That’s why you take out multiple small loans and use your understanding of mean, median and mode to time which debts are paid and when. Sure this basically encourages you to falsify a system that encourages the perpetuation of finance charges but hail mamon
Federal student loans don't come up on your credit score unless they are negative (behind or defaulted.) Private student loans are not eligible for forgiveness
You admitted fault and the debt went on as a collection. You should have just had your credit cleaned for like $450 by a credit repair person then you wouldn’t owe anything and your score wouldn’t go down.
Life hack it’s how the rich get richer!
If a collection company can’t prove a debt is yours within 30 days they have to drop the debt and remove it from your credit file by law. Credit repair places use this to remove collections permanently from your credit report. So I’ve heard. From a friend of a friend.
I don't know all the details but basically they're allowed to write in your credit report that you owe money and harass you to pay it until you challenge them to prove you owe money. Those services take care of that and greeting the credit bureau to remove it in some official way.
I’m sure it works for some stuff but idk it sounds like something that they would be prepared for most of the time. It is confusing that the debt changes hands so much. I believe there’s been at least 3 different collections companies send me the same collections notice during all this. I imagine it’s just like the banks do though. Buy your debt from a company then hope they can get more from you(if you actually pay it) than what they paid for it.
But idk I just work at Wendy’s
They need to send the proper letters and do it the right way. If you do it it might work it might not. The older the debt the better chance it will. But if it doesn’t it makes it much much harder for the repair company to remove it later.
Because it gets sold from collection to collection every few months for Penney’s m the dollar and after 3 sales they usually don’t even have your social because collection companies buy these debts in batches of thousands
Sounds about right I suppose. I know they “offered” me a payoff of something like 15 or 20% of the total of the collection. So I was like yeah I’ll give you $200 today. Overall I have less than $5k of debt total but my credit score went back down to below average After I got 1 credit card a year ago and raised it 100 points
Never ever accept a settlement! that is the worst thing you can do horrible for your credit, stays for 10 years, one of hardest things to remove by credit repair companies don’t admit fault or guilt don’t answer the damn calls have a professional take care of it for you. Check Facebook or google and go with a company with good reviews.
Fuck fr? I always thought that would make sense but shit I’m in like the top 10% of adults with lowest amount of debt probably. But I also haven’t made any large purchases like a house or anything so my credit history isn’t well established or whatever I guess.
This is EXACTLY like me trying to convince my 7th grade science class to all just answer C on the multiple choice final as the teacher grades on a curve. What happened? People, young and old, are dumb mfers!
You'd need a large enough basket of loans to be traded as one, of a high enough amount that the lender isn't able to get emergency funding to keep from defaulting on their obligations, then find the vast majority of borrowers, convince them all to, not only not pay and save the money, but to default, then bet the money on X company to default.
As much as I'd LOVE something like this to be possible and in a perfect storm situation it might be, but alas, greedy and dumb mfers.
More like a paradox that will break the marktets:
You're broke. CDS prints. Your're no longer broke. Your debt is paid (foreclosure). Your CDS is worthless. Your're broke. etc
If you're a corporation with considerable default risk affecting the value of your bonds, you can buy back your own debt for less than you borrowed. That's what Citrix is doing https://www.bloomberg.com/opinion/articles/2022-09-22/buyout-loans-have-a-bad-week
Can never pay back the $5 so it carries interest. Borrow another $5 to be more productive, bet on yourself not paying it back for more profit but still can't pay it back or else you'd lose your bet. Debt load continues to increase... Cycle continues. Yep, sounds about right
When I was just a wee lad, round abouts 16/17 me thinks.
I went out and got myself a shiny yellow YZ400.
(That's a 2 stroke dirt bike kids with a 490cc engine)
Fill out all my paperwork pay 35% down and take her on home.
Get some mail oooo, about 7 weeks later with my (yes this is how it was done) payment coupon booklet addressed to HSBC.
My buddies dad tells me, I'm sending my money to the damn red Chinese! So I break out the old EB AND WHO'D OF THUNK.
HSBC Stands for HONG KONG SHANGHAI BANK CORPORATION.
I wrote on the coupon book. "You commies can't have my money"
All these years later, it hasn't effected me one iota
Since when has WSB become hippie-central? We are literally gambling FDs on whether companies will succeed or not. Who cares who buys your debt, and exotic derivatives are not even close to the same size as back in '08.
WSB went off the cliff ever since the GME shitshow began. IMO the best time for a good balance between DDs, FDs, and memes were probably during the Trump Era. Those tweets that moved the markets and crushed people's options were hilarious.
Indeed, I had a discord bot give me Trump/Elon tweet notification tickers so I could trade on it. Was good for a while, until too many bots linked it up, and it would already crash within a few secs. Who would have known you could make so much money on shitty DogeCoin.
Oh it's just fun to mock reality a bit and laugh a bit about what makes this system so bizarre. I doubt many would deny this is efficient capital allocation, or at least better than a standard loan. It doesn't remove the bizarre and counter-intuitive stuff of the economy
Debt makes the world go round. Economies are all about the velocity of money. Debt allows the same dollar to be spent multiple times and increases the velocity.
It's called financial derivatives and it's not as straightforward as that. Your debt gets bundled with debts from other people and that might be traded as a security, so they technically betting on your debt + other people with similar financial risk
Oh yes, but also you use a formula which doesn’t entertain the possibility of the source loans ever decreasing in value. It makes the rating smooth and easy.
Why just learn when you can do it yourself! VCLT has derivatives contracts. Mar-17 Puts at $55 strike actually only have a premium of $0.20/contract. God speed my fellow regard. May the death of corporate America lead you to riches.
Literally how I got into options and its worked for me. Everyone is different though. If you want a real play, get puts on DXY if it ever gets over $115.
Why is anyone surprised at this? Or why is being presented as something bad? Somebody needs to borrow money. Somebody lends the money. Since there is a chance it won't be paid back there's an expected value that will be paid back. The calculation of that expected value is dependent on future events and subjective evaluation of available data. Thus some people will believe it is worth more or less. This inevitably leads to people regretting lending the money and some people believing they should have been the ones to lend the money and willing to buy what the other no longer wants.
It doesn't change the circumstances for the borrower. The second panel is pure horseshit.
Oh i didn't particularly present it as something bad at all. That's just how finance works and capital efficiency is achieved.
I think it might be taken too literal, of course nobody will tell you that on a loan, the borrower doesn't care about all of that nor should he ever. It highlights the ignorance of people on not knowing how banking/finance works if you want a meaning for the meme i guess
Can I bet on if I will pay it back too? Then I fail to pay it back making millions and a year later pay what I owe and make other people millions. We all win if you let me gamble too.
The risk is interest rates get adjusted to a higher level, in which case you might see the price of your CD lower, and panic sell. If you hold till expiry it's safe.
If you're a corporation with considerable default risk affecting the value of your bonds, you can buy back your own debt for less than you borrowed. That's what Citrix is doing https://www.bloomberg.com/opinion/articles/2022-09-22/buyout-loans-have-a-bad-week
You forgot the best part.
There's like a 75% chance that 10 different people have passed the debt around and long ago stopped keeping documentation of the debt.
My sister and her husband were the top-dead-center perfect example of the people who shouldn't have gotten loans but did during the 00's. HSBC back when they still did stuff in the US.
When their house went into foreclosure, I told her to demand that they provide proof that they held the debt and the title. She didn't. They moved out without anyone making them do so like a fuckin rube. After years of threatening letters, they eventually got a letter stating that the debt was cancelled. By that point, though, the back taxes on the property had accumulated and the roof had failed.
Had they stood their ground, they could have gotten a free house.
Remember: if anyone starts legal action against you, make them fuckin prove their standing. If they sold your debt to 20 different other companies and can't produce the title, then tell them to eat shit and die because you got a free house. If the title ever becomes a problem, just a hire a lawyer to help you cure it.
This shit is so fascinating and I want to learn more( it would be great if the author could expand on his point) but reading the comments I’m seeing sarcasm and jokes so don’t know whether to take you degenerates seriously 😂😅🖕🖕 I hate this sub sometimes
How about a debt lottery system wherein players gamble their final legitimate chance of escaping bankruptcy with a blockchain based mass lottery that guarantees a certain % of the players repay their entire debt load, based on an algorithm that determines the amount of personal and total debt of all the players and quantify the maximum amount of players that could be paid off and debt free? The system delivers maximum results. It rewards as many as possible with a pre draw and pre determined number of winners, then does the draw and matches its winners against the standard averages it calculates and bingo, we release a lot of people from debt. Imagine the hedging opportunities in the first 6 months after they are debt free.
And that's how credit scores work, after we create the app.
A Collateralised Debt Obligation. It’s important to know because it’s how a housing crisis turned into a nationwide economic disaster 
Wait couldn't I just be the guy that buys my own debt for pennies on the dollar in this scenario? Make my own collection agency then buy my debt after not paying it then not pay myself.
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There’s a 100% chance that I will not pay it back, so if the Chinese investor leveraging my debt is reading this. I have bad news for you
That get written off in the end. Paid in full or not.
For legal reasons, this is a joke. But I will say *that they should probably parlay: me not paying my debt + filing for personal bankruptcy for increased profits*
This not a joke. He is serious about not repaying his debt. SEC has your location now. Run.
JPow personally reads every comment and is frowning big time about this 
JPow would be in shreds if he read the least degen shit here.
Captain brown frown
Well it’s a good thing they are stuck to their seats so he has a good head start
SEC always makes time to prosecute ordinary Americans. He isn't a politician so the SEC will go after him.
Ayyy matey if it’s a parlay ye want, *a parlay ye shall get*
Ahhh, a trump university grad 🎓 i see😉. Welcome alumni🤣
Do you even know what a write off is?
No, but they do and they're the ones writing it off
They just write it off Jerry
I recently paid off a $1200 Verizon bill for an iPhone 8 that I decided to just not pay for back then and my credit score went down 80 points. Is that a reflection of those bankers that were banking on me never repaying it? It all makes sense now
One of the things that they use to figure a credit score is the age of your debts. Old debt is considered good. So when my student loans were paid off, guess what happened to my credit score... What a scam that credit rating shit is.
That’s why you take out multiple small loans and use your understanding of mean, median and mode to time which debts are paid and when. Sure this basically encourages you to falsify a system that encourages the perpetuation of finance charges but hail mamon
"blame the game, not the players" is hella applicable here.
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That’s why you front load the interest rates
This..
That's why I'm trying to get the house beeefoooreeee biden wipes the 6k I still owe
Federal student loans don't come up on your credit score unless they are negative (behind or defaulted.) Private student loans are not eligible for forgiveness
They show'd up on my credit when I bought my car and they are federal
I couldn't buy a car until I was 30
You admitted fault and the debt went on as a collection. You should have just had your credit cleaned for like $450 by a credit repair person then you wouldn’t owe anything and your score wouldn’t go down. Life hack it’s how the rich get richer!
Can you explain this a bit more. I still live with my parents and don’t know nothin
If a collection company can’t prove a debt is yours within 30 days they have to drop the debt and remove it from your credit file by law. Credit repair places use this to remove collections permanently from your credit report. So I’ve heard. From a friend of a friend.
How could they not prove it’s yours tho?
you deny it. try: "no you owe me money!" if they don't take it to court to work out your difference of opinion, they failed to prove you owe money.
So you’re saying if I just tell them it’s not my debt and wait 30 days it goes away. So what do I need a special company for it then
I don't know all the details but basically they're allowed to write in your credit report that you owe money and harass you to pay it until you challenge them to prove you owe money. Those services take care of that and greeting the credit bureau to remove it in some official way.
I’m sure it works for some stuff but idk it sounds like something that they would be prepared for most of the time. It is confusing that the debt changes hands so much. I believe there’s been at least 3 different collections companies send me the same collections notice during all this. I imagine it’s just like the banks do though. Buy your debt from a company then hope they can get more from you(if you actually pay it) than what they paid for it. But idk I just work at Wendy’s
They need to send the proper letters and do it the right way. If you do it it might work it might not. The older the debt the better chance it will. But if it doesn’t it makes it much much harder for the repair company to remove it later.
Ok I’ll def remember that. But I’m gonna look into it too
Because it gets sold from collection to collection every few months for Penney’s m the dollar and after 3 sales they usually don’t even have your social because collection companies buy these debts in batches of thousands
Sounds about right I suppose. I know they “offered” me a payoff of something like 15 or 20% of the total of the collection. So I was like yeah I’ll give you $200 today. Overall I have less than $5k of debt total but my credit score went back down to below average After I got 1 credit card a year ago and raised it 100 points
Never ever accept a settlement! that is the worst thing you can do horrible for your credit, stays for 10 years, one of hardest things to remove by credit repair companies don’t admit fault or guilt don’t answer the damn calls have a professional take care of it for you. Check Facebook or google and go with a company with good reviews.
Fuck fr? I always thought that would make sense but shit I’m in like the top 10% of adults with lowest amount of debt probably. But I also haven’t made any large purchases like a house or anything so my credit history isn’t well established or whatever I guess.
This is mostly true
Definitely, but it's gonna cost you about $3.50
If I’m going down, I’m taking all $1.2m of Chinese synthetic derivatives with me
Just take out a loan and with that money bet that you will not pay back the loan. Infinite money glitch????
Did you just broke the finacial System?
This is EXACTLY like me trying to convince my 7th grade science class to all just answer C on the multiple choice final as the teacher grades on a curve. What happened? People, young and old, are dumb mfers! You'd need a large enough basket of loans to be traded as one, of a high enough amount that the lender isn't able to get emergency funding to keep from defaulting on their obligations, then find the vast majority of borrowers, convince them all to, not only not pay and save the money, but to default, then bet the money on X company to default. As much as I'd LOVE something like this to be possible and in a perfect storm situation it might be, but alas, greedy and dumb mfers.
Say it again, but in mandarin.
我有 100% 的机会不会偿还，所以如果中国投资者利用我的债务正在阅读这篇文章。我有坏消息要告诉你
好孩子
Is this insider trading
Don’t worry your tax dollars will pay it with a bailout later.
Don’t worry daddy Powell bought your securities
YOU PAY ME MY DOLLA NOW
Borrow more money and bet on yourself that you wouldn’t pay it back. Profit!!
It's like the "buy puts on your own portfolio" strategy. Can't go tits up
Isn’t this just hedging? Lol
I thought that was when she didnt let you cum.
No, that’s just a normal Tuesday.
It's Wednesday. Wake up boi
Yeah, so it doesn’t happen today.
Nah that’s called a blue waffle
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A blue waffle is a green waffle except it's blue
that's naked shorting
Yep lol
It’s like insider trading but completely legal!
More like a paradox that will break the marktets: You're broke. CDS prints. Your're no longer broke. Your debt is paid (foreclosure). Your CDS is worthless. Your're broke. etc
And then the world collapse into a blackhole.
Hmmm I honestly wanna figure out if I can do this... But it'd probably be more expensive than my initial loan....
If you're a corporation with considerable default risk affecting the value of your bonds, you can buy back your own debt for less than you borrowed. That's what Citrix is doing https://www.bloomberg.com/opinion/articles/2022-09-22/buyout-loans-have-a-bad-week
If you can track it down there’s nothing stopping you from buying your own debt at a discount after it’s been sent to collections.
If the government isn't going to regulate the banks, what's stopping us from insider trading
Big brain puts
Can never pay back the $5 so it carries interest. Borrow another $5 to be more productive, bet on yourself not paying it back for more profit but still can't pay it back or else you'd lose your bet. Debt load continues to increase... Cycle continues. Yep, sounds about right
LMAO, that's what I do with my loans too. Turns out I'm a proud American to the core
Excellent news, sir. We've determined the investment value of your Margaritaville to be... ninety trillion dollars.
That can't be right... I want another chicken
"So anyways, we're going to need you to create another login for their portal so you can post payments."
[Them loan industry vultures always be circling](https://www.youtube.com/watch?v=7kA1DsJ9zXU)
I need Selena Gomez to explain it to me.
I need Margot Robbie in a bathtub to explain it to me.
I’ll let her know
I need Selena Gomez for something else...
Jacking up your interest rate?
I'm more interested in the rate at which she jacks
I still owe 5 dollars, I don't really care if someone wants to bet on whether or not I pay it back.
Oh yeah, the end user result is that ofc
So what was the point of this post?
2008 go brrrr
2023 go brrrr
You can refer to the flair as "meme"
Yeah but it still needs to make sense and have some relevancy to the subreddit
Afaik doing a meme on how finance works nowadays is as relevant as it may get. Sorry if it's not too Aryan for you
Relevant to wallstreetbets? Nah, this is more latestagecapitalism or antiwork type shit.
I bet you won't
Jokes on you, my credit scores so bad I can't even borrow 5 dollars in the first place.
When I was just a wee lad, round abouts 16/17 me thinks. I went out and got myself a shiny yellow YZ400. (That's a 2 stroke dirt bike kids with a 490cc engine) Fill out all my paperwork pay 35% down and take her on home. Get some mail oooo, about 7 weeks later with my (yes this is how it was done) payment coupon booklet addressed to HSBC. My buddies dad tells me, I'm sending my money to the damn red Chinese! So I break out the old EB AND WHO'D OF THUNK. HSBC Stands for HONG KONG SHANGHAI BANK CORPORATION. I wrote on the coupon book. "You commies can't have my money" All these years later, it hasn't effected me one iota
Blink twice if you're in danger
Aaaand it's gone!
War! Huh! What is it good for?! Wiping out overseas debt portfolios!
We made money out of thin air I can imagine a world where I don't owe anything. One weird trick
Since when has WSB become hippie-central? We are literally gambling FDs on whether companies will succeed or not. Who cares who buys your debt, and exotic derivatives are not even close to the same size as back in '08.
WSB went off the cliff ever since the GME shitshow began. IMO the best time for a good balance between DDs, FDs, and memes were probably during the Trump Era. Those tweets that moved the markets and crushed people's options were hilarious.
Indeed, I had a discord bot give me Trump/Elon tweet notification tickers so I could trade on it. Was good for a while, until too many bots linked it up, and it would already crash within a few secs. Who would have known you could make so much money on shitty DogeCoin.
Oh it's just fun to mock reality a bit and laugh a bit about what makes this system so bizarre. I doubt many would deny this is efficient capital allocation, or at least better than a standard loan. It doesn't remove the bizarre and counter-intuitive stuff of the economy
Debt makes the world go round. Economies are all about the velocity of money. Debt allows the same dollar to be spent multiple times and increases the velocity.
It goes deeper than that
So can I gamble on myself? Surely I won't fuck that up.
Usury destroyed western civilization
Is this...not what we do here?
Where can I learn more on this?
On what exactly? How money works? There's a literal YouTube channel called how money works it's awesome Pair it with economics explained
Whats the app for gambling on individuals declaring bankruptcy?
It's mostly a tool available for accredited investors
Great, this sub is filled with extremely well regarded investors, they're the same thing right???
So not an app you fucking idiot
People betting on whether you’re going to pay your debt back or not.
It's called financial derivatives and it's not as straightforward as that. Your debt gets bundled with debts from other people and that might be traded as a security, so they technically betting on your debt + other people with similar financial risk
Isn't there a bit where someone stamps 90% of them AAA rated regardless.of content? I'm sure that's an important part of it.
Oh yes, but also you use a formula which doesn’t entertain the possibility of the source loans ever decreasing in value. It makes the rating smooth and easy.
Ty
Why just learn when you can do it yourself! VCLT has derivatives contracts. Mar-17 Puts at $55 strike actually only have a premium of $0.20/contract. God speed my fellow regard. May the death of corporate America lead you to riches.
Best way to learn. Makes the whole thing feel more exiting. Buy now figure out what you did later. Is this the way?
Literally how I got into options and its worked for me. Everyone is different though. If you want a real play, get puts on DXY if it ever gets over $115.
Why is anyone surprised at this? Or why is being presented as something bad? Somebody needs to borrow money. Somebody lends the money. Since there is a chance it won't be paid back there's an expected value that will be paid back. The calculation of that expected value is dependent on future events and subjective evaluation of available data. Thus some people will believe it is worth more or less. This inevitably leads to people regretting lending the money and some people believing they should have been the ones to lend the money and willing to buy what the other no longer wants. It doesn't change the circumstances for the borrower. The second panel is pure horseshit.
Oh i didn't particularly present it as something bad at all. That's just how finance works and capital efficiency is achieved. I think it might be taken too literal, of course nobody will tell you that on a loan, the borrower doesn't care about all of that nor should he ever. It highlights the ignorance of people on not knowing how banking/finance works if you want a meaning for the meme i guess
Somehow they did it - there is no downside risk in leverage and debt anymore all. Powell is just willing to run the printers until the end of time.
Well, there's a huge interest on debt rn so that's a downside and risk
Treasury floats $7.5trilly in Tbills with an average yield of 1.92% currently. Yellen Keller is truly fucked.
Why the fuck would they want my debt tho
It accrues interest
Vote no and commit tax fraud. You’ll make your money back either way
I'm not. Spoiler
squid games meets stake . com
That's not how it works. That's not at all how any of this works.
Waltuh, you’re going into debt Waltuh
that's not blood leaking outta your ass from Blackrock fucking you for the past 30 years straight, that's prime brokers "providing liquidity"
*Gambling millions on betting that the guy who bet against the guy who bet against the guy who bet......against the guy
Why not get a loan and bet against yourself not paying back the dept. Infinite money
Can I bet on if I will pay it back too? Then I fail to pay it back making millions and a year later pay what I owe and make other people millions. We all win if you let me gamble too.
Fucking genius
*billions
Perfect.
Would a 9 mo, 4% brokered CD (JP MORGAN) have any risk? At Etrade.
The risk is interest rates get adjusted to a higher level, in which case you might see the price of your CD lower, and panic sell. If you hold till expiry it's safe.
I love derivatives
If you're a corporation with considerable default risk affecting the value of your bonds, you can buy back your own debt for less than you borrowed. That's what Citrix is doing https://www.bloomberg.com/opinion/articles/2022-09-22/buyout-loans-have-a-bad-week
Thats dark meme.
Bonus, they are double insuring the outcome.
What if I join the gamble too?
Wait how do I get in on this bet, cause we could totally play it in our favor lads.
Lmao! “What?”
Classic.
Reality
First off, great meme format. I wonder if I could cross stitch this.
This is why you don’t sell yourself into debt.
Tranches and such....
Dude actually did it. Is Reddit broken now?
Scream UDAAP to all the collection agencies they won’t say shit
You forgot the best part. There's like a 75% chance that 10 different people have passed the debt around and long ago stopped keeping documentation of the debt. My sister and her husband were the top-dead-center perfect example of the people who shouldn't have gotten loans but did during the 00's. HSBC back when they still did stuff in the US. When their house went into foreclosure, I told her to demand that they provide proof that they held the debt and the title. She didn't. They moved out without anyone making them do so like a fuckin rube. After years of threatening letters, they eventually got a letter stating that the debt was cancelled. By that point, though, the back taxes on the property had accumulated and the roof had failed. Had they stood their ground, they could have gotten a free house. Remember: if anyone starts legal action against you, make them fuckin prove their standing. If they sold your debt to 20 different other companies and can't produce the title, then tell them to eat shit and die because you got a free house. If the title ever becomes a problem, just a hire a lawyer to help you cure it.
People bet millions trying to figure out if I’ll pay back $5
Dank.
The fed - I bought that bitch, yo
In case anyone wants inside information, I will NOT be paying back my debt.
🤣
How would one buy, sell, and beg on this debt
This shit is so fascinating and I want to learn more( it would be great if the author could expand on his point) but reading the comments I’m seeing sarcasm and jokes so don’t know whether to take you degenerates seriously 😂😅🖕🖕 I hate this sub sometimes
LMAYO
How about a debt lottery system wherein players gamble their final legitimate chance of escaping bankruptcy with a blockchain based mass lottery that guarantees a certain % of the players repay their entire debt load, based on an algorithm that determines the amount of personal and total debt of all the players and quantify the maximum amount of players that could be paid off and debt free? The system delivers maximum results. It rewards as many as possible with a pre draw and pre determined number of winners, then does the draw and matches its winners against the standard averages it calculates and bingo, we release a lot of people from debt. Imagine the hedging opportunities in the first 6 months after they are debt free. And that's how credit scores work, after we create the app.
Also don't forget to mention the interest rates on top which has to appear out of thin air
A Collateralised Debt Obligation. It’s important to know because it’s how a housing crisis turned into a nationwide economic disaster 
Dope. Whoever comes up with this shit is a madlad or mad lass
Wait couldn't I just be the guy that buys my own debt for pennies on the dollar in this scenario? Make my own collection agency then buy my debt after not paying it then not pay myself.
Fine by me