The debt portfolio the show had purchased through CARP would be transferred to RIP Medical Debt, a nonprofit that works to forgive medical debt without worry of tax ramifications for debtors, Oliver said.
Advertisement
During Sunday’s “Last Week Tonight”, broadcast, Oliver canceled $14,922,261.76 worth of medical debt as part of a segment digging into the billion-dollar debt-buying industry.
The company, which he named Central Asset Recovery Professionals – or C.A.R.P., “after the bottom-feeding fish” – purchased nearly $15 million in medical debt for just $60,000. With little more than a website, they received an invitation to buy nearly $15 million in medical debt in the state of Texas for less than half a cent on the dollar – a little less than $60,000 in total. The charity, which is now focused on buying up USA veterans’ debt, said it saw a boost in donations on Monday after the program aired. “We called it Central Asset Recovery Professionals, or CARP, after the bottom-feeding fish”.
To prove how easy it is to get into debt collecting, Last Week Tonight purchased its own debt acquisition company in MS for about $50. As we understand, the majority of the money owed was from medical workers’ student fees.
Oprah Winfrey, the queen of television giveaways, has some new, stiff competition.
Get rich quick business set up, he then set about buying a staggering $15 million (Just over £10 million) in debt from Texas for comparatively small amount of $60,000. The company got personal information on almost 9,000 people.
Yup, he just bested that time Oprah gave away million in cars.
Instead of making those people’s lives a living hell about debt they no longer had to pay on these medical bills, CARP chose to forgive all the debt. “So what do you say, are you ready to make television history?”
He finished the section by pushing a big red button shouting “F*** you Oprah” as money started to rain down.
Advertisement
“We need much fairer rules and tougher oversights from potentially predatory companies like the one we setup”.
