John Oliver forgives 15 million in medical debt

[AgonyandIrony]

"It seems to me the least we can do for debt I cannot f---ing believe we're allowed to own is to give it away," Oliver said to close his show. "F--- you, Oprah. I am the new queen of daytime talk!"


That Oliver, He's a pretty cool guy.

 

[in the]

Good for him.

 

[AgonyandIrony]

Good for him.

Good for all the people whose debt he bought and forgave.

 

[7437]

fucking communist. this just creates a culture of dependency and lack of responsibility.

 

[KILL KILL]

That's awesome. Great episode too.

 

[Ultrashogun]

I dont like that guy.

 

[M3t4tr0n]

Good shit

 

[Metusalemi]

None of that actually happened. Everything in TV is fake.

 

[ucunc156]

Saw the episode last night. Pretty awesome. Ridiculous that those functions are allowed to exist on so many levels. Companies writing off 15 million and reselling it for pennies on the dollar? Jeez

 

[44nutman]

Saw the episode last night. Pretty awesome. Ridiculous that those functions are allowed to exist on so many levels. Companies writing off 15 million and reselling it for pennies on the dollar? Jeez

The bigger problem for me, is how easily he set up the company which gave him access to a bunch of private information.

I think people should pay their debts, but some of the shit those companies pull is sickening, the sad part, nothing will be done. Those companies will just have to increase their donations to our elected officials.
I dealt with one who was harassing my wife for her dead brothers debt. He lived at my house for a short period of time, so the wife was getting calls about a fucking cell phone bill. The company was being dicks, had my attorney give them a call and they went away.
Most people don't have access to an attorney,(I just happen to be best friends with one.) so they are forced to put up with the BS.

 

[ryan3434]

Cool. Good stuff John

So is the 15 million what they bought the debt for or was the actual amount of debt owed. If the latter I'd like to know how many pennies on the dollar it was bought for.

 

[ucunc156]

The bigger problem for me, is how easily he set up the company which gave him access to a bunch of private information.

I think people should pay their debts, but some of the shit those companies pull is sickening, the sad part, nothing will be done. Those companies will just have to increase their donations to our elected officials.
I dealt with one who was harassing my wife for her dead brothers debt. He lived at my house for a short period of time, so the wife was getting calls about a fucking cell phone bill. The company was being dicks, had my attorney give them a call and they went away.
Most people don't have access to an attorney,(I just happen to be best friends with one.) so they are forced to put up with the BS.

Yeah I mean I have no problem with holding people accountable for their debt, but it seems like all that money is lost anyway. Either through debt or bankruptcy, etc. So I can't support a system in which the bank just writes off the losses and another company comes to collect for pennies on the dollar. I mean if a bank is just a win/tie situation in everything they do, no matter how risky the lending is, then whats the point?

Cool. Good stuff John

So is the 15 million what they bought the debt for or was the actual amount of debt owed. If the latter I'd like to know how many pennies on the dollar it was bought for.

He bought it for $60,000. Its absurd.

 

[Deleted member 491001]

He bought it for $60,000. Its absurd.

Holy shit!

 

[electricfuneral]

Yeah I mean I have no problem with holding people accountable for their debt, but it seems like all that money is lost anyway. Either through debt or bankruptcy, etc. So I can't support a system in which the bank just writes off the losses and another company comes to collect for pennies on the dollar. I mean if a bank is just a win/tie situation in everything they do, no matter how risky the lending is, then whats the point?

He bought it for $60,000. Its absurd.

incredible

 

[Gandhi]

Saw the episode last night. Pretty awesome. Ridiculous that those functions are allowed to exist on so many levels. Companies writing off 15 million and reselling it for pennies on the dollar? Jeez

What is wrong with that. If I Iend you cash and you dont pay me back, I have every right to sell it to someone else. They pay pennies but have the risk of getting a goose egg or spending tons of time collecting. Its a greasy business and needs regulation but if it did not exist borrowing costs would raise as expected losses on defaults increased.

Good on Oliver for the charity.

 

[klnOmega]

Its a cool thing to do, but the debt was so cheap because it was basically uncollectable to begin with. He forgave a bunch of debt no one was going to pay.

 

[Gandhi]

The bigger problem for me, is how easily he set up the company which gave him access to a bunch of private information.

I think people should pay their debts, but some of the shit those companies pull is sickening, the sad part, nothing will be done. Those companies will just have to increase their donations to our elected officials.
I dealt with one who was harassing my wife for her dead brothers debt. He lived at my house for a short period of time, so the wife was getting calls about a fucking cell phone bill. The company was being dicks, had my attorney give them a call and they went away.
Most people don't have access to an attorney,(I just happen to be best friends with one.) so they are forced to put up with the BS.

I agree the potential for abuse is an issue and requires regulation.

 

[Diamond Jim]

I'm not economics guy but how the hell can you buy $15mil worth of debt for $60k?

 

[WorldofWarcraft]

What he doesn't understand is that these very same people that he wiped the debt with, are going to accrue more debt in the very near future.

I bet every single one of us here know SEVERAL people who just cannot stay out of debt.

Motherfuckers are buying things they don't need with money they don't have.

 

[klnOmega]

I'm not economics guy but how the hell can you buy $15mil worth of debt for $60k?

Its people are who are literally never going to pay it. Either dirt poor people/homeless, or people who are laying on their death bed on life support like right now.