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Kung Food
Dec 11, 2006

PORN WIZARD

Randalor posted:

Is there anything stopping someone from buying their debt for the pennies-on-the-dollar amount when it gets sold off, or do the people/companies owed money normally contact a debt collector service first and then it's sold to said service?

I remember growing up my dad bought a big package of pennies on the dollar debt, thinking it was easy money. Turns out it is pretty easy to tell a debt collector to gently caress off and your only recourse is to take them to court. So not really worth it unless you have the time or resources to pay someone harass the debtors into compliance by calling five times a day.

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Randalor
Sep 4, 2011



Sorry, I meant is there anything stopping someone from buying their own debt for pennies on the dollar when it goes for sale to collection agencies?

kw0134
Apr 19, 2003

I buy feet pics🍆

At that point you talk directly to the agency and make an offer to settle directly, or more likely get an attorney to handle it so it's properly discharged.

Bondematt
Jan 26, 2007

Not too stupid

Randalor posted:

Sorry, I meant is there anything stopping someone from buying their own debt for pennies on the dollar when it goes for sale to collection agencies?

You need a license to buy the debt. I don't know if there are any rules regarding buying your own debt as a debt collector, but thay would be commical.

drilldo squirt
Aug 18, 2006

a beautiful, soft meat sack
Clapping Larry

kw0134 posted:

At that point you talk directly to the agency and make an offer to settle directly, or more likely get an attorney to handle it so it's properly discharged.

How do you get an attorney to handle it if your broke?

kw0134
Apr 19, 2003

I buy feet pics🍆

Depending on where you live, you may qualify for Legal Aid.

god please help me
Jul 9, 2018
I LOVE GIVING MY TAX MONEY AND MY PERSONAL INCOME TO UKRAINE, SLAVA
Where do you go for legal aid? Asking for a friend/when I eventually gently caress up and need it.

Mercury_Storm
Jun 12, 2003

*chomp chomp chomp*
The local Bar association itself may give legal aid and lawyer referrals. Individual lawyers might have policies as well.

Improbable Lobster
Jan 6, 2012

"From each according to his ability" said Ares. It sounded like a quotation.
Buglord

Randalor posted:

Sorry, I meant is there anything stopping someone from buying their own debt for pennies on the dollar when it goes for sale to collection agencies?

It should be the law that people should have first purchase rights whenever their debt is sold but lol as if that'll ever happen

WithoutTheFezOn
Aug 28, 2005
Oh no

Improbable Lobster posted:

It should be the law that people should have first purchase rights whenever their debt is sold but lol as if that'll ever happen
If you had funds to buy your own debt …

cat botherer
Jan 6, 2022

I am interested in most phases of data processing.

Kung Food posted:

I remember growing up my dad bought a big package of pennies on the dollar debt, thinking it was easy money. Turns out it is pretty easy to tell a debt collector to gently caress off and your only recourse is to take them to court. So not really worth it unless you have the time or resources to pay someone harass the debtors into compliance by calling five times a day.
Sorry about your dad.

Frank Frank
Jun 13, 2001

Mirrored
Someone on this very website taught me that you should never, under any circumstances gently caress with Debt.

Professor Shark
May 22, 2012

Lol it’s amazing that the Most Sued Man still wants to be a millionaire

I hope he fucks around enough to land his dumbass in jail

kw0134
Apr 19, 2003

I buy feet pics🍆

WithoutTheFezOn posted:

If you had funds to buy your own debt …
Presumably you'd be "buying" or rather settling the debt for the amount they're willing to write off for, which is often pennies on the dollar as was the case when Toledo, OH purchased $220 million in nominal medical debt for about $1.6m (with the aid of the county commissioners). But laws aren't written for the benefit of the debtors.

BUG JUG
Feb 17, 2005



Frank Frank posted:

Someone on this very website taught me that you should never, under any circumstances gently caress with Debt.

An all time meltdown.

bird with big dick
Oct 21, 2015

Did that guy suck a goat off yet

Azuth0667
Sep 20, 2011

By the word of Zoroaster, no business decision is poor when it involves Ahura Mazda.

Comfy Fleece Sweater posted:

Also, “you can’t wake up someone pretending to be asleep”

Sure you can, the sternal rub does the trick every time.

UCS Hellmaker
Mar 29, 2008
Toilet Rascal
Sure you can. That's why they gave me the new deluxe ezio DeWalt edition. For when someone really pisses you off, insert a needle into their leg the size of a nail and flush it to ensure the person is truly (dead).

B-Rock452
Jan 6, 2005
:justflu:

Azuth0667 posted:

Sure you can, the sternal rub does the trick every time.

I like holding their hand above their face and dropping it. If they punch themselves in the face it turns out they were actually asleep.

Improbable Lobster
Jan 6, 2012

"From each according to his ability" said Ares. It sounded like a quotation.
Buglord

WithoutTheFezOn posted:

If you had funds to buy your own debt …

Debt collectors buy debt for pennies on the dollar. Lets say you had a huge student loan and you don't have the funds to pay it off. It gets sold to another loan company for half of its total value. Maybe you could afford that, maybe you couldn't, but you should be able to buy it at that price before anyone else.

kw0134 posted:

Presumably you'd be "buying" or rather settling the debt for the amount they're willing to write off for, which is often pennies on the dollar as was the case when Toledo, OH purchased $220 million in nominal medical debt for about $1.6m (with the aid of the county commissioners). But laws aren't written for the benefit of the debtors.

Yeah exactly

Morter
Jul 1, 2006

:ninja:
Gift for the grind, criminal mind shifty

Swift with the 9 through a 59FIFTY
Alex Jones' attorney has law license suspended after Sandy Hook misconduct

https://www.rawstory.com/norm-pattissandy-hook/

quote:

According to a report from NBC Connecticut, one of the attorneys for Infowars founder Alex Jones has his law license suspended for six months for what a judge called a lack of "fundamental fairness and decency," while defending his controversial client.

At issue, as attorney Norm Pattis plans to appeal the ruling, was his public release of private files related to the mass shooting at Sandy Hook Elementary School in 2012 that left 26 dead as well as their attacker.

Burning_Monk
Jan 11, 2005
Mad, Bad, and Dangerous to know
HAHA!

gently caress you, Norm.

Scarodactyl
Oct 22, 2015


I'm so glad we let lawyers decide what punishments lawyers should receive.

Kung Food
Dec 11, 2006

PORN WIZARD
Guess he will have to fall back on his stand up career to survive.

Grand Fromage
Jan 30, 2006

L-l-look at you bar-bartender, a-a pa-pathetic creature of meat and bone, un-underestimating my l-l-liver's ability to metab-meTABolize t-toxins. How can you p-poison a perfect, immortal alcohOLIC?


Kung Food posted:

Guess he will have to fall back on his stand up career to survive.

I wonder if his woke insurance covers this.

mojo1701a
Oct 9, 2008

Oh, yeah. Loud and clear. Emphasis on LOUD!
~ David Lee Roth

Scarodactyl posted:

I'm so glad we let lawyers decide what punishments lawyers should receive.

Opening Arguments did an episode about this and said that at least it's good that the state bars are finally doing something about piece of poo poo lawyers like Pattis and Giuliani.

Also thanks to Knowledge Fight I'm listening to Opening Arguments.

Vincent Van Goatse
Nov 8, 2006

Enjoy every sandwich.

Smellrose
Pattis sounds like a disgusting Latvian food product made of whipped animal bits.

Xiahou Dun
Jul 16, 2009

We shall dive down through black abysses... and in that lair of the Deep Ones we shall dwell amidst wonder and glory forever.



Vincent Van Goatse posted:

Pattis sounds like a disgusting Latvian food product made of whipped animal bits.

It’s a pâte made from beets, capers and the main source of meat in Latvian cooking : bog wolves.

mojo1701a
Oct 9, 2008

Oh, yeah. Loud and clear. Emphasis on LOUD!
~ David Lee Roth

https://twitter.com/PattisNorm/status/1611324987092221953?s=20&t=Rd5_glWDW-geMBE77prY6Q

Klyith
Aug 3, 2007

GBS Pledge Week

fuckin LMAO
https://twitter.com/Beach19thSt/status/1611359528972587008

ryde
Sep 9, 2011

God I love young girls
Haven't been following this, did Norm get disbarred?

Philthy
Jan 28, 2003

Pillbug

ryde posted:

Haven't been following this, did Norm get disbarred?

Just suspended. I'm sure he has like 2183 more suspensions before he can get disbarred.

Alkydere
Jun 7, 2010
Capitol: A building or complex of buildings in which any legislature meets.
Capital: A city designated as a legislative seat by the government or some other authority, often the city in which the government is located; otherwise the most important city within a country or a subdivision of it.



The suspension is still kind of a big deal. Yes he can practice law again in the future but any clients he was representing in other cases, or he was just doing standard low-key attorney stuff for, cannot use him. He basically has to send them all a notice saying "It's illegal for me to work now and you have to find a new lawyer." It's an immediate stop to his income and will have to shutter his doors for half a year.

Even if he doesn't quit the law profession he's going to have to rebuild clients from scratch unless there's some serious personal loyalty (which let's be honest, can you see any client being loyal to Norm?), all with a massive asterisk next to his business that will drive at least some clients away.

mojo1701a
Oct 9, 2008

Oh, yeah. Loud and clear. Emphasis on LOUD!
~ David Lee Roth

Alkydere posted:

The suspension is still kind of a big deal. Yes he can practice law again in the future but any clients he was representing in other cases, or he was just doing standard low-key attorney stuff for, cannot use him. He basically has to send them all a notice saying "It's illegal for me to work now and you have to find a new lawyer." It's an immediate stop to his income and will have to shutter his doors for half a year.

Even if he doesn't quit the law profession he's going to have to rebuild clients from scratch unless there's some serious personal loyalty (which let's be honest, can you see any client being loyal to Norm?), all with a massive asterisk next to his business that will drive at least some clients away.

Opening Arguments went through what this meant, and from what I remember, he has to specifically mention it to any clients he picks up after or firms he works with. And if he decides to move to another state to practice law, that state's bar association can straight-up deny his application to practice law in their state for that reason.

Pennywise the Frown
May 10, 2010

Upset Trowel

Morter posted:

Alex Jones' attorney has law license suspended after Sandy Hook misconduct

https://www.rawstory.com/norm-pattissandy-hook/

:lol:

Mr. Nice!
Oct 13, 2005

bone shaking.
soul baking.
In FL they give lawyers whose tickets have been punched 30 days or so to help clients transition to new attorneys and get continuances as needed. Once they've got everything squared away, they notify the bar and their suspension begins.

Azubah
Jun 5, 2007

Lol like that dude is going to do his due diligence.

B-Rock452
Jan 6, 2005
:justflu:

Alkydere posted:

The suspension is still kind of a big deal. Yes he can practice law again in the future but any clients he was representing in other cases, or he was just doing standard low-key attorney stuff for, cannot use him. He basically has to send them all a notice saying "It's illegal for me to work now and you have to find a new lawyer." It's an immediate stop to his income and will have to shutter his doors for half a year.

Even if he doesn't quit the law profession he's going to have to rebuild clients from scratch unless there's some serious personal loyalty (which let's be honest, can you see any client being loyal to Norm?), all with a massive asterisk next to his business that will drive at least some clients away.

He actually had to tell the judge in a proud boy insurrection case that he was suspended today. Lol

mojo1701a
Oct 9, 2008

Oh, yeah. Loud and clear. Emphasis on LOUD!
~ David Lee Roth

https://twitter.com/SebastianMurdoc/status/1613538105377669121?s=20&t=iQGsTLA8mBS0bVEto7K9Ew

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Mercury_Storm
Jun 12, 2003

*chomp chomp chomp*
The texts were provided by Mark Bankston after he got the full copy of Alex's phone lol

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