Saturday, April 26, 2008

Can I sell my debt on eBay too?

Apparently some family in PA was trying to sell their debt on eBay. Currently there are 46 minutes left and there is a bid of $1.00. (auction link) And the amount of the debt is $103,245.11.

So, if that $1.00 is what they get, will they even come out ahead? It cost them to list it on eBay. And if they get the money by PayPal then they will take a cut.

Of course, the whole thing is pretty ridiculous. This does not look to be the best debt reduction plan. Interesting choice, yes.

I have to wonder though- did they really think that someone would just come and pay everything off for them? Are they high?


debt reduction said...

Very ridiculous indeed! Maybe they were really high that time. LOL! Well, in cases like drowning in debt, there are debt consolidation loans that can help you get out of debt and pay off your debts slowly. That sort of selling the debt in eBay is very funny. Who will pay for that big amount of debt for them anyway? :)

Anonymous said...

UH... the person on Ebay is not soliciting money for assistance in paying their debt, they are SELLING their debt. This means the $1 winner has PURCHASED their debt for one dollar and is now under legal contractual obligation to pay off that debt. This is a GREAT deal for the seller: The buyer sends them $1 and the seller sends them a legal contract that transfers the debt into the buyer's name. The buyer can now begin making the payments as the seller having a legal binding contract is no longer responsible for the debt.