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$18m over 3 years to help 500k people suffering from serious financial hardship? Thats not even $40 per person. Yeah, seems like an easy win.
by nindalf 3y ago
$18m over 3 years to help 500k people suffering from serious financial hardship? Thats not even $40 per person. Yeah, seems like an easy win.
- ouked 3y ago>The city is working with RIP Medical Debt, a nonprofit that buys medical debt in bulk from hospitals and debt collectors for pennies on the dollar. I read it as $18m invested = $2b of debt for 500k people, as they seem to get a discount for buying the debt in bulk. Could always be more though :)
- helsinkiandrew 3y ago$18m is just under $0.01 on the dollar, which sounds very good value, but apparently debt collectors pay as little as $0.04 to $0.14 on the dollar anyway due to the low chance of getting paid: https://www.solosuit.com/posts/how-much-collection-agencies-pay-medical-debt https://www.solosuit.com/posts/how-much-collection-agencies-...
- Gow8876 3y agoElection year. Just take it with a grain of salt. What is reported and what actually happens is alway very different. Plus it is democrats controlled, money generally assumed by them to grow on trees or rain from sky.