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> CARP located and purchased from Texas for about $60,000 a medical debt portfolio worth $14,922,261.76 — paying less than a half-cent on the dollar. [0] [0] h
by rosser 8y ago
> CARP located and purchased from Texas for about $60,000 a medical debt portfolio worth $14,922,261.76 — paying less than a half-cent on the dollar. [0]
[0] https://ripmedicaldebt.org/john-oliver-medical-debt/ https://ripmedicaldebt.org/john-oliver-medical-debt/
- ceejayoz 8y agoRemarkably cost efficient. I wonder how feasible it'd be to do this on a larger scale. TARP spent $400B bailing out banks; seems like that'd go a long way here.
- jjeaff 8y agoMight be better to spend the money on education. Since all this debt was over 7 years old, no one would have had any legal obligation to pay on the debt nor would it show up in their credit reports. Anyone who buys debt at that point is just hoping to be able to convince/trick the indebted to paying anyway.
- ceejayoz 8y ago> Anyone who buys debt at that point is just hoping to be able to convince/trick the indebted to paying anyway. Seems like this should be illegal, then, with penalties.
- jjeaff 8y agoWell, I mean morally, you still owe the money. Just because the law has protected you from legal retribution after 7 years, I don't think it is necessarily right to make it illegal to ask for what is rightfully yours. There are other laws in place to keep creditors from harassing you forever. So worst case, you could receive mail for the rest of your life asking for you to pay up.