Many Americans find themselves like the rest of the country... in debt. There are certainly many unforeseen life occurrences that can happen that will lead people to get in to debt in today's world. But imagine if your debt could be wiped clean at a fraction of the cost. Wouldn't everyone want that?
Well, John Oliver forgave $15 million of medical debt from Americans living in Texas and its hard to not be happy for those people benefiting here.
“Look, it is pretty clear by now—debt buying is a grimy business, and badly needs more oversight, because as it stands, any idiot can get into it,” Oliver said. “And I can prove that to you, because I’m an idiot, and we started a debt-buying company. And it was disturbingly easy.”
In April, Oliver and his team spent $50 to incorporate an online debt buying agency in Mississippi called Central Asset Recovery Professionals (CARP), “named after the bottom-feeding fish,” according to the host. With little more than a website, they received an invitation to buy almost $15 million in medical debt in the state of Texas for less than half a cent on the dollar — a little less than $60,000 in total.
Instead of using the names and contact information they purchased to hound debtors for payment, Oliver forgave the debt, essentially “giving away” $15 million in one fell swoop. While debt forgiveness isn’t quite as exciting as Oprah giving 276 studio audience members brand new cars worth $28,500 each—for a total giveaway cash value of $7.866 million—Oliver still celebrated the moment with almost as much energy.
No comments:
Post a Comment