Last night on the HBO show “Last Week Tonight,” host John Oliver forgave nearly $15 million in time-barred medical debt. He was able to do this after setting up a collection company and purchasing the debt for about $60,000. This debt portfolio and many more like it, is often called zombie debt, because it cannot be collected through legal action. Even though the debt obligation…
Dealing with insurmountable debt and making the decision to file bankruptcy can be a deeply personal and overwhelming experience. However you choose to address your debt, whether through consolidation, settlement or bankruptcy, the process is usually full of anxiety and eventually, great relief. And it’s an experience that individuals often hide from others. The perceived stigma that when you fall into…
In the old days when much of the wealth in society was under the control of kings, nobles and robber baron businessmen, the majority of charitable work was done by religious groups. That all changed when steel magnate Andrew Carnegie who spent the first half of his life accumulating a vast fortune, and spent the second half of his life…