Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
"Debt forgiveness" is a misnomer. What happens is that the original debtee recognises it's never going to get its full value reutrn, so cuts the loss by selling on to another debtee for cents on the dollar.

The debt is forgiven as far as the original is concerned, but the full value is still owed to the purchasor of the debt.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Wed Dec 17th, 2008 at 10:41:00 AM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Occasional Series