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What does John Oliver’s latest stunt say concerning the country’s debt dilemmas?

What does John Oliver’s latest stunt say concerning the country’s debt dilemmas?

While paying down nearly $15 million in debt from old expenses that are medical tv host payday loans Florida John Oliver also highlight the trillions of bucks of debt currently carried by an incredible number of Americans.

tv host and comedian John Oliver has taken his reasonable share of stunts since his satirical news program “Last Week Tonight” began its run in 2014, but his effort that is latest might have been their biggest yet. Amid his typical lampooning of politics, society, and other things he sees fit, Mr. Oliver turned his laser-focused reporting in the issue of debt in the us. And following a typically in-depth report on the topic of financial obligation purchasers, Oliver went on to give fully out the award that is largest ever given out by a tv program: the forgiveness of nearly $15 million owed by around 9,000 debtors across the country.

Oliver’s breakdown of the American financial obligation buying business covered the ins and outs associated with the industry in which businesses or agencies purchase info on financial obligation that is not likely to be gathered, then try to collect from debtors by themselves or just re-sell your debt. Financial obligation purchasers use techniques which range from the appropriate system to frighten tactics so that you can reclaim money that is theoretically owed in their mind, despite having bought it for pennies in the dollar through the creditor that is original.

“Now demonstrably, this is certainly just going to help the 9,000 individuals whose debt that is medical bought,” Oliver said on-air to introduce his massive debt forgiveness. ” The larger problem is: we truly need much clearer guidelines and tougher oversight to guard consumers from possibly predatory organizations such as the one he jokingly summed up before purchasing – and subsequently forgiving – $14,922,261.76 in medical debt that we set up. Continue reading What does John Oliver’s latest stunt say concerning the country’s debt dilemmas?