http://finance.yahoo.com/news/occupy-abolishes-4-million-other-041400334.html
7 replies (most recent on top)
37557 - you know, you're right. They could have offered past due Genesis students a one-time payoff deal at at ten percent. Would have easily earned more than the sale, could have wiped the debt off of students credit histories and avoided them enduring years more of collections calls. Sad.
Old news? I didn't know about this until I read the article which also has today's date so I'm not understanding how it's old news.
What's old news is people like you jumping into every topic to massage your own ego by pretending to be the only ones here who know things. Old news to you might be new news to someone else. So why don't you spend less time trying to sound smart and actually contribute to the conversation. If that's not possible then move on. This board is too full of people like you.
Anonymous37563- Don't worry, there will be another then another.
That's old news. Again.
What's interesting is that CCi sold over $500M in face value for $19M. Sure the estimated collectible value was about $75M. It's too bad that CCi didn't offer the students a payoff for 4 cents on the dollar. Students could have paid off $10,000 in debt for $400.
That is really interesting. I imagine that CCi will find even more debt to sell them.