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Buying bad debt is an action which is done in order to assist a company or individual that owes more than they are able to pay. The process is usually considered as the last solution to a difficult financial situation, and usually involves one group or organization taking on all the outstanding debt of someone who greatly needs the assistance. This method can be very helpful for a company or individual who has fallen into a difficult financial situation, however, caution should be taken before such an action is finalized.
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