How John Oliver pardoned medical debt of 9000 Americans
Oprah giving out cars to everyone in the audience on her show ‘The Oprah Winfrey Show’ is still spoken about with much awe. Now, John Oliver has simply topped that.
Host of the popular show called ‘Last Week Tonight’, John Oliver has done something unimaginable.
Like he does in every episode, Oliver tackled an issue in the latest episode that aired earlier this week in the US. This time, the issue was medical debt.
American households collectively hold over $12 trillion in medical debt, the Federal Reserve Bank of New York said in their quarterly report, out of which $436 billion has passed its due date.
“Many people can find themselves in debt for no fault of their own,” Oliver said on the show.
Oliver’s team investigated and found that the barrier entry into the debt collection business in the US was very low.
He spent $50 to form a debt recovery called Central Asset Recovery Professionals or CARP, and became its chairman.
Then, CARP bought medical debt portfolio of nearly $15 million of in Texas at less than $60,000.
For that amount, CARP would receive the names, addresses and Social Security numbers of nearly 9,000 people.
However, like any other debt recovery company, Oliver’s CARP did not hound those 9000 people to recover the medical debt.
He forgave it all.
And with that, he surpassed Oprah’s giveaway of $8 million worth of cars to her audience, with happiness that truly was uncountable.