I think we are indulging in semantic confusion. Even Bigtool...

I think we are indulging in semantic confusion. Even Bigtool wrote, “People still need to pay the debts if they have the means.”, but then his mind focuses on folk who do not have the means to pay. CCP, and investors in CCP, are thinking of a population that has the means to pay. All CCP's collections come from people who,have the means to pay, which is why negotiated repayment plans make up 80% of CCP's collections.

The population who cannot pay debts are of no use to CCP, so it focuses on the better quality PDls. In spite of that, about half the face value of PDLs that CCP acquires is never paid. I do not know what CCP typically pays for PDLs, but if it were 23c per dollar, then using amortisation as being 46% of collections, CCP would not collect half the PDLs' face values (.23/46% = 50%). If, for example. CCP buys debt at 20c in the dollar, and amortises its PDLs at 46%, then we could assume it collects about .2/46% = 43.5 cents per dollar of face value, and hence 56.5 cents per dollar is not paid. Some debtors don't pay because they cannot; some because they cannot be traced, but have the means to pay; some who have the means, but not the will to pay; and some who can be traced, but do not have the means to pay. Obviously, over time people may drift from inability to pay to being able to pay their debts, and vice versa, so some people pay part of their debts.

A large percentage of CCP's collections is whittled away by the expense of tracking down people and negotiating repayments. Buying cheaper debt would mean a higher percentage of non-payment. According to https://www.copyright link/companie...m-casts-focus-on-ledger-sales-20190814-p52gz7 CCP, annually lodges near-zero bankruptcy filings, probably because it buys higher quality debt. This low propensity to litigate makes CCP an attractive buyer of charghed-off debt, and I think that it would be popular for quality-debt vendors in the USA too, and to a degree novel, because litigation is more common in the USA.