As usual, the word "better" hides a lot of relevant detail. Better for whom? By what measure?

Shockingly, in at least some cases by some measures, though, it works better for us if I pay your debt and you pay my debt, because it is possible for a third party to get much, much better terms on repayment than the original borrower. In many cases, debts can be sold for pennies on the dollar to anyone except the original borrower. See any of these articles