I mean it should be feasible. Once you work out what the costs involved in setting up a company. There is a likely a process where you bid against other companies to buy debt. Then you just get to send people nice letters saying you won’t chase the debt or you’ll write it off.
Where I live it’s $150 to register a business, so I guess add whatever lawyer fees you might need but otherwise it doesn’t seem like it should be too hard.
I mean it should be feasible. Once you work out what the costs involved in setting up a company. There is a likely a process where you bid against other companies to buy debt. Then you just get to send people nice letters saying you won’t chase the debt or you’ll write it off.
Where I live it’s $150 to register a business, so I guess add whatever lawyer fees you might need but otherwise it doesn’t seem like it should be too hard.