Discussion in 'The Howard Stern Show' started by XuXu, Jun 8, 2016.
20 minute you tube
Can you summerize wut this is all about? I actually like the dude, but can't take his voice/deliver sometimes
So YOU'RE his viewer... nice!
I watched this Sunday night, but I'm not sure what the context for posting it is.
He explained how debt buying companies operate. Him and his producers set up a legit debt-buying company of their own called C.A.R.P. Spent $60k to buy 15 million in medical debt and then forgave it.
cuz I thought it was interesting?
He gave away money, Robin?
He spent $60,000 to buy up $9million worth of debt for some Americans.
He has erased that debt from their ledgers.
Hell of a racket
Americans are stupid and think credit card debt is how life works.
It's crazy. You don't even need any special licenses to open one of these companies. They buy debt for pennies on the dollar. They then receive all the debtor's info, including their SS#'s.
Yes. Sick Americans who go into debt are especially stupid.
Sometimes "ownership" of these debt obligations pass through 2 or more secondary collection market buyers for pennies on the dollar. So if they can intimidate old debtors into paying obligations that the original creditors, like hospitals, have already written off, it's pure profit. Often they use onerous intimidation techniques like calling the person's employer, threatening physical harm to them and their animals, etc. They are the parasites of the business world and make it a point to still try to collect even after the statute of limitations for that particular state (in many states it's 5 years) has run out. Don't confuse them with primary organizations who didn't get (and often should have gotten) paid.. these secondary market assholes are pure scum.
Yes, but much like Howard's material, it appears that the producers copied the idea from another organization and didn't give them credit for it. But UNLIKE Howard when they got caught they gave them "some" credit for it.
Are you talking about another show? I know that this isn't a brand new idea, but having someone with a show on HBO bring attention to it is a huge benefit to the organizations that are involved in debt buying forgiveness.