Companies that purchase debt cheaply then collect it aggressively are shockingly easy to start. We can prove it! Connect with Last Week Tonight online.
If Hell is a real place, then I think there is a special place in it reserved for debt buyers, right alongside insurance salesmen and lawyers.
How much of a prick do you have to be to decide "Yeah, I'm going to aggressively pursue this person to shake as much change out of them as we can", when before that, it was literally none of your business? Stop sticking your nose in where it doesn't belong, and that is why we all hate you, because you have to inherently be an asshole to do the job.
That would make a great reality show. You find the most miserable people in America and just… forgive them. Don't give them anything, but forgive them everything. Heartwarming.
As ridiculous as it looked, that Nicolas cage but might have been one of the most effective acting moments I've ever seen. Are we even sure he's acting?
I dont understand why this is the biggest give away. if it is out of statute then it can't be collected on and is "given back" anyway. Or am I massively off base?
I tell debt collectors to fuck off, they can't do anything to you when you're disabled or on SS. Can't touch your government money. They call you horrible names, report them to the FTC. Record these assholes, turn them in.
Would this work? Can those same 9k affected create a company buy the debt for less than 10 dollars each and forgive the debt? Unless I heard the numbers wrong it sounded like 60k to buy 15M dollars of debt! Something does not sound right!
Medical debt is bullshit cause it isn't your fault your sick unless you like did a lot of drugs or exposed yourself to radiation for fun, if you did then you deserve that disease at least a little bit
True giveaway is about to help people who realy need help, and not to buy a cars to brainwoshed MILFS so John Oliver i love you and oprah go fuck yourself.
Just a small idea but what if you were to set up a fake debt collection company and sell people back there debt. He said that he bought the debt for half a cent a dollar so if the company sells it back for one cent a dollar they double there investment and the debt owners divide there debt by ten seems like a win win for everyone
If a bank writes off a debt, that's a tax deduction which means that the debt is effectively paid by the tax payer. Surely, the bank cannot then sell that debt that they don't own (or no longer exists). Isn't that (tax) fraud???
this is insane. a quick reminder that interest-bearing debt is prohibited in at least some form in all three major religions. But this prohibition was forgotten because it was not convenient to capital owners.
Thank you for this. I know it will likely bite you in the ass at some point in the future but for this one act of compassion I am awarding you the highly sought after title of 'being a descent human being'; it might be a meaningless sentiment to most people but you and I both know the old proverb 'it is better to give than receive' is true. I love you. G.
Just playing Devil's advocate here in a "be careful what you wish for' tone:
If debt becomes harder to sell and collect, and banks and lenders are no longer able to sell debt to debt buyers, then credit will become more difficult to acquire as lenders will need to more heavily scrutinize the consumers they are lending to (due to being unable to make any return on lenders who cannot / do not pay back the debt). This will lead to those who need credit to bridge a gap (aka those he spoke of at the beginning of the segment) being less likely to qualify for as much or any credit. This could lead in many cases to those who need the money having to file bankruptcy and losing their possessions they needed the credit for (typically a house or car).
This reduced available credit will also presumably lead to less consumer spending, which is a major part of the American economy. If spending declines in any significant way, that could easily lead to a rise in unemployment as less goods need to be produced. Unemployment leads to even less consumer spending, and the cycle is a positive feedback loop, damaging the economy to an even greater extent.
The credit industry in general, and especially debt buyers, need more regulation, however we do need to realize that heavier regulations can lead to some unintended and very negative consequences.
I have Nicolas Cage's scene from The Trust as my ringtone and alarm.
so could you theoretically buy your own debt?
how is excell still so widely considered to be hard?
how is excell still so widely considered to be hard?
If Hell is a real place, then I think there is a special place in it reserved for debt buyers, right alongside insurance salesmen and lawyers.
How much of a prick do you have to be to decide "Yeah, I'm going to aggressively pursue this person to shake as much change out of them as we can", when before that, it was literally none of your business? Stop sticking your nose in where it doesn't belong, and that is why we all hate you, because you have to inherently be an asshole to do the job.
That would make a great reality show. You find the most miserable people in America and just… forgive them. Don't give them anything, but forgive them everything. Heartwarming.
16:01 #basesystem xkcd rules
fun fact, Troy mclauhorn was playing a Paul Reed smith guitar. I believe it is a 24
As ridiculous as it looked, that Nicolas cage but might have been one of the most effective acting moments I've ever seen. Are we even sure he's acting?
Hold on… where can I find the guy who will let me get to second base with a goat?
6:40 …woke.
Fuck you, Ellen Degeneres!!
I dont understand why this is the biggest give away. if it is out of statute then it can't be collected on and is "given back" anyway. Or am I massively off base?
Thanks John… Student Loan Debt is even worse… Universities run up $120,000 for B.A. English majors… and how can they pay that back ?
Oprah should have dunn this she could have gave away a billion dollars in debt
I tell debt collectors to fuck off, they can't do anything to you when you're disabled or on SS. Can't touch your government money. They call you horrible names, report them to the FTC. Record these assholes, turn them in.
Why don't they just slash your debt to 1% instead of selling it for 0.5%? Although I guess no one would pay then.
Would this work? Can those same 9k affected create a company buy the debt for less than 10 dollars each and forgive the debt? Unless I heard the numbers wrong it sounded like 60k to buy 15M dollars of debt! Something does not sound right!
Medical debt is bullshit cause it isn't your fault your sick unless you like did a lot of drugs or exposed yourself to radiation for fun, if you did then you deserve that disease at least a little bit
I got one of those letters, went to the magistrate's hearing. The lawyer didn't show up.
True giveaway is about to help people who realy need help, and not to buy a cars to brainwoshed MILFS so John Oliver i love you and oprah go fuck yourself.
Maybe they sold this list elsewhere and multiple times. Just saying.After all it is only an EXCEL file. By the way can you do the same for Greece?
Class act
Lmao I love this guy
This only happens to delinquent or charged off debtors. Just pay your fucking loans..
Just a small idea but what if you were to set up a fake debt collection company and sell people back there debt. He said that he bought the debt for half a cent a dollar so if the company sells it back for one cent a dollar they double there investment and the debt owners divide there debt by ten seems like a win win for everyone
i love this ty john for the 15 mill give away u are so better than oprah…. dont tell her i said that.
can we petition to have more evanescence jokes in this show? please?
If a bank writes off a debt, that's a tax deduction which means that the debt is effectively paid by the tax payer. Surely, the bank cannot then sell that debt that they don't own (or no longer exists). Isn't that (tax) fraud???
this is insane. a quick reminder that interest-bearing debt is prohibited in at least some form in all three major religions. But this prohibition was forgotten because it was not convenient to capital owners.
bokol haram, the west is forbidden. John Oliver is different, he is accepted
Thank you for this. I know it will likely bite you in the ass at some point in the future but for this one act of compassion I am awarding you the highly sought after title of 'being a descent human being'; it might be a meaningless sentiment to most people but you and I both know the old proverb 'it is better to give than receive' is true. I love you. G.
Incredible racket debt companies have today…knowledge is power.
Now make a segment about how Americans irresponsibly get themselves in debt, knowing the consequences.
moral of the story if a debt buying firm takes you to court show up. I don't think they're getting far with an excel spread sheet
Now this would be a great idea for a charity or go fund me page/idea.
Deport John Oliver back to england.
This guy is a fucking genius!
You are my hero John Oliver. Seeing that literally brought me to tears. Thank you for your humanity.
Isn't wsbtv a Georgia television show
Holy shit! 15 million dollars!
I hope President Trump will do something to protect ordinary people from this debt-buying business.
Ha, I'm just kidding. That'll never happen. If anything, Trump will make it easier for companies to do this to people.
Just playing Devil's advocate here in a "be careful what you wish for' tone:
If debt becomes harder to sell and collect, and banks and lenders are no longer able to sell debt to debt buyers, then credit will become more difficult to acquire as lenders will need to more heavily scrutinize the consumers they are lending to (due to being unable to make any return on lenders who cannot / do not pay back the debt). This will lead to those who need credit to bridge a gap (aka those he spoke of at the beginning of the segment) being less likely to qualify for as much or any credit. This could lead in many cases to those who need the money having to file bankruptcy and losing their possessions they needed the credit for (typically a house or car).
This reduced available credit will also presumably lead to less consumer spending, which is a major part of the American economy. If spending declines in any significant way, that could easily lead to a rise in unemployment as less goods need to be produced. Unemployment leads to even less consumer spending, and the cycle is a positive feedback loop, damaging the economy to an even greater extent.
The credit industry in general, and especially debt buyers, need more regulation, however we do need to realize that heavier regulations can lead to some unintended and very negative consequences.