Is it possible to take on someones debt in exchange for cash? – Barfour

Hi,

I don’t have a debt problem, infact I don’t have any debt. What I have is an idea and I would to ask about its feasibility. I am looking at different ideas to raise capital for my start-up, one of them is a unique idea.

Currently there are many people with debt in the US, some of them will not be able to pay back their debt fully, some of them are desperate to get rid of their debt, some of them need innovative solutions in order to be able to pay back their debt. My idea is a deal in which I will take on part of someone’s debt in exchange for cash or other assets. For example I will take on or assume responsibility of paying for 10000 dollars of someone’s debt in exchange for cash or assets worth anywhere, from 3000 dollars to 7500 dollars. I will use part of the assets or cash to invest in my start-up and pay back the debt I have acquired.

I know that you help people to get out of debt, are there people in debt who would be interested in a deal like the one I have described above? How feasible is my idea? Can you please float this idea to people who might be interested in it?

Barfour

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