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John Oliver Buys and Forgives $15 Million in Debt
Key Excerpts from Article on Website of ABC/Associated Press
Posted: June 13th, 2016
http://abcnews.go.com/Entertainment/wireStory/john-oliver-bu...
Some 9,000 people stuck with delinquent medical bills had their debts forgiven courtesy of HBO host John Oliver. Oliver, on his "Last Week Tonight" program Sunday, took the action to illustrate a story about the practices of companies that purchase the records of debtors and attempt to collect on them. The show set up its own company to acquire $15 million worth of debt owed to hospitals in Texas, paying $60,000. Oliver said it was "disturbingly easy" for his show to set up a company, which it called Central Asset Recovery Professionals, and incorporate it in Mississippi to make the purchase. Oliver's show engages in a form of investigative comedy, this week examining [how] institutions often sell their debt for pennies on the dollar to companies who then attempt to collect on the bills. These companies operate with little regulation, and sometimes employ shady and abusive collectors who try to intimidate people into paying, he said. RIPMedicaldebt.org, a nonprofit that raises money to buy debt and forgive the bills owed by people who can least afford to pay them, welcomed the attention. "It's absolutely fabulous," said Craig Antico, CEO of RIPMedicaldebt.org. "It puts a light on a problem that few people know exists. If people paid attention to (Oliver's show) and it got them upset, they should realize that we can eradicate much of this debt if we all banded together to help each other," Antico said. "People can make a donation of $50 and wipe out a $10,000 debt."
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