Last Week Tonight show host John Oliver forgave approximately $15 Million dollars’ worth of old medical debt. The price paid? $60,000 dollars.
How is it possible that millions of dollars of medical debt can be wiped away while consumers are expected to pay back every single penny of old medical debt? Oliver and his team created debt collection company “Central Asset Recovery Professional” or better known as CARP – brilliantly named after the bottom feeding fish. CARP purchased expired Texas medical debt for $.004 for every dollar. Rather than collect the $15 Million, CARP very publicly forgave the debt by partnering with non-profit organization “RIP Medical Debt” which specializes in forgiving medical debt without tax consequences to the consumer.