[ThomasGokey]

But wouldn't this be great? I think it would be fantastic if we could some how organize so that people could buy their own debts for pennies on the dollar. It seems difficult for several reasons.

Collection agencies often have a wide range of flexibility and can almost always get rid of the ridiculous fees that are added for missing payments. Most of the time they're just trying to figure out how much they can realistically bleed out of someone and go for that. A well informed person should be able to cut a deal with a collector, but if you're in that situation you've already had your credit ruined.