Originally Posted by bmulls
They aren't doing anything. These debt collectors buy up debt that companies have already written off and reported to the credit agencies. Then they harass you all day every day to try to get you to pay. These people are doing the same thing except "forgiving" the loans instead. The people still defaulted on their loans and their credit ratings are still totally fcked up.
What the hell are you talking about? How is forgiving loans and erasing debt not doing anything? Credit rating sucks regardless, except now you don't have to worry about collectors on your ass 24/7. Those people will finally be able to maybe climb uphill instead of climbing out of a hole. Its definitely doing something.