http://www.nytimes.com/2016/06/07/a...iver-forgives-15-million-in-medical-debt.html
Absolutely brilliant Mr John Oliver... more should be doing this.
I feel like this was covered elsewhere, but I agree - John Oliver is brilliant.
I would like to know how much of those debts belong to living individuals. John Oliver purchased the debt at such a cheap rate that it is almost certain that the debts belong to individuals that are the least likely to have ever resulted in a collection. We will have to see if any of the 9000 step forward.
Can anybody say, "tax deduction"? John Oliver just stuffed the government for 15 million bucks.
I haven't watched the video but it's a bit hypocritical for John Oliver to do this while whining about Trump filing for BANKRUPTCY and getting his debts restructured (and not forgiven).
I feel like this was covered elsewhere, but I agree - John Oliver is brilliant.
I would like to know how much of those debts belong to living individuals. John Oliver purchased the debt at such a cheap rate that it is almost certain that the debts belong to individuals that are the least likely to have ever resulted in a collection. We will have to see if any of the 9000 step forward.
I haven't watched the video but it's a bit hypocritical for John Oliver to do this while whining about Trump filing for BANKRUPTCY and getting his debts restructured (and not forgiven).
People do have a choice when it comes to purchasing insurance. Furthermore Oliver forgave the debt out of hand. I still haven't watched the video, but does he know about the financial stability of the individuals in question? Were these people destitute, dead, or were they forgetful millionaires? Lastly, when the ACA first went into effect there were stories about people going to the emergency room for simple cuts and abrasions. How do we know some of these medical debts weren't because of patient stupidity? It's nice to think that every medical bill is an emergency, but that's obviously not always the case. I admit once again, I still haven't had a chance to view the video so I could be wrong.I don't see how the two are related. John Oliver specifically purchased medical debt which means it was debt that people most likely had no choice but to incur else they suffer in pain or, you know, die. Not quite the same as buying a casino.
People do have a choice when it comes to purchasing insurance. Furthermore Oliver forgave the debt out of hand. I still haven't watched the video, but does he know about the financial stability of the individuals in question? Were these people destitute, dead, or were they forgetful millionaires? Lastly, when the ACA first went into effect there were stories about people going to the emergency room for simple cuts and abrasions. How do we know some of these medical debts weren't because of patient stupidity? It's nice to think that every medical bill is an emergency, but that's obviously not always the case. I admit once again, I still haven't had a chance to view the video so I could be wrong.
Can anybody say, "tax deduction"? John Oliver just stiffed the government for 15 million bucks.
Can anybody say, "tax deduction"? John Oliver just stiffed the government for 15 million bucks.
This post is wrong in like six different ways which is impressive given the low wordcount.
But, you can't tell us a single one of those ways.
Please explain.
You obviously couldn't understand.
Is this going to be one of those threads...again?
People do have a choice when it comes to purchasing insurance. Furthermore Oliver forgave the debt out of hand. I still haven't watched the video, but does he know about the financial stability of the individuals in question? Were these people destitute, dead, or were they forgetful millionaires? Lastly, when the ACA first went into effect there were stories about people going to the emergency room for simple cuts and abrasions. How do we know some of these medical debts weren't because of patient stupidity? It's nice to think that every medical bill is an emergency, but that's obviously not always the case. I admit once again, I still haven't had a chance to view the video so I could be wrong.
See what I mean?
1. Create an LLC
2. Loan $15 million to the LLC.
3. The LLC doesn't pay back the loan, because obviously the LLC doesn't intend to collect on any of the debts.
4. Wellah! A $15 million loss that can be written off.
If he was able to purchase the debt then it was already in collections. The original creditors don't think they'll see it, so they sell off delinquent accounts to debt collection agencies that aggressively pursue the debtors whether they have the legal right to do so or not.
Yes, I agree. I just wonder if it hasn't been purchased and sold a few times (he purchased it for like 0.005 on the dollar) because it has taken so long or been so difficult to collect.
Yeah... no it doesn't work that way.
Can anybody say, "tax deduction"? John Oliver just stiffed the government for 15 million bucks.
1. Create an LLC
2. Loan $15 million to the LLC.
3. The LLC doesn't pay back the loan, because obviously the LLC doesn't intend to collect on any of the debts.
4. Wellah! A $15 million loss that can be written off.
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