On Sunday night’s episode of Last Week Tonight with Jon Oliver, the national treasure that is the host not only exposed the disgusting greed of the debt collection industry, he also made history by forgiving the medical debt of almost 9,000 people for a total of $14,922,261.76:
He explained to his viewers that he undertook the surprisingly easy task of starting a debt buying company, Central Asset Recovery Professional, Inc. — “or CARP, for the bottom-feeding fish,” he explained. No sooner had he set up a CARP web site, but another debt buyer was offering to sell Oliver nearly $15 million worth of medical debt for less than $60,000.
So CARP bought the debt of nearly 9,000 people — just so Oliver could forgive it. According to the host, this is the largest one-time giveaway ever on television, beating out Oprah Winfrey’s famous “you get a car! You get a car!” episode, which cost that show $8 million.
If you haven’t watched the episode yet and you’re not sure what the debt collection industry is, it’s essentially a group of soulless monsters that buy various kinds of delinquent debt from banks and credit card companies for pennies on the dollar. Then they harass, threaten, deceive and bully people into paying them. It’s a great way to get rich if you have no conscience whatsoever.
Here’s the amazing video:
On a personal note: My wife is currently dealing with these parasites. Several years ago, she closed down her Discover card and that should have been the end of that. But Discover never closed it down and it got hacked 4 years later. Someone ran up several hundred dollars in purchases and Discover contacted us, demanding Debbie pay the bill anyway. She laughed them off the phone and they stopped calling.
Turns out, they stopped calling because they sold the debt to a debt buying company and “forgot” to mention the debt was not Debbie’s. So now THAT company was calling and demanding payment. When Debbie told them politely to fuck off and it wasn’t her debt, the alleged lawyer on the phone, I kid you not, tried to convince her to pay half of it anyway. Over the following two months of repeated phone calls, he dropped it to 25 percent (is he not merciful?!). At one point he tried to threaten her credit score to which she responded with threats of a lawsuit.
They stopped calling. We can only assume they’re going to sell “her” debt to yet another company and we’ll go through this again at some point.
Isn’t capitalism wonderful?
Featured image via screen cap.