Nov 29 2008
Credit Card Debt For Sale
I had a crazy idea the other day, what if you could get someone to buy your credit card debt and pay it off for you. What if you could simply place a classified ad that said, “Credit card debt for sale - Extremely sorry and frustrated creditor looking for someone to rescue her from her stupid mistake of purchasing things she couldn’t afford and living beyond her means.” Do you think that anyone would go for this ad? Do you think that some millionaire philanthropist would come to my rescue and say, “Oh, you poor thing, I see you’re remorseful and I feel your pain. I’ll buy your credit card debt for sale. Here is xx,xxx.00. Take the money to pay off your debts. You don’t owe anything in return. I simply love helping out financially irresponsible people.”
Do you actually think that would work? Ummm I don’t’ think so. I think all you would get is a bunch of laughs. However, every single day people are willing to get in more and more debt, hoping that someone, some entity will rescue them with a huge stimulus check or that they’ll find some loophole where their credit card debt will magically vanish.
I honestly don’t think it is going to happen people and strongly suggest that you take a good hard look at your existing financial situation and then make a commitment to pay off your debt the good old fashion way – through hard work and effort. Then, when some sorry sap approaches you with a sign saying “credit card debt for sale.” You can say, “No thanks, I prefer to invest my money in investments that make sense. Good luck with that one.”
Helpful article.