While I agree with what you are saying, I just wanted to take up...

While I agree with what you are saying, I just wanted to take up your point of "some people never learn about debt". The type of 'client' PNC buys isn't the sort of person that has repeatedly had issues with debt. On the contrary, they are tier 1 in the sense that this default is their first 'offence'. As such it's not underlying poor money management that causes their default, but usually an event such as illness or retrenchment. The point is, they previously had good credit records. This is distinct from other debt collectors who are indiscriminate in their debt buying