Debt Buyers: Last Week Tonight with John Oliver (HBO)

last week tonight with john oliverjohn oliverlast week tonightdebt buyingdebt buyersjohn oliver debt buying

Companies that purchase debt cheaply then collect it aggressively are shockingly easy to start. We can prove it! 

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Lincoln Pough
Jesus what is John's yearly "shenanigans" budget. He's always like SURPRISE we did this crazy thing or bought this thing for no reason lol.
AngryRice87
I used to work at a debt collection firm. Many of the debt buyers we had as clients did not have the original contract or any documentation regarding the debtor's encumbrances. The hope was that most of these debtors would simply ignore Court summons, and we would win by default, which allowed us to proceed with a garnishment. If any of those debtors asserted any kind of defense, we would most definitely lose. It was a lucrative business because we had cases in the thousands.

We did also have many legitimate cases from the original creditors. Some of those creditors (our clients) were pretty aggressive and sometimes totally incompetent, which is why I refuse to transact with certain financial institutions to this day.

One absolute I learned was... don't screw around with student loans.
theNickRYG
Forget the debt. Apparently I can fucking BUY your social security numbers. Thousands of them.
HOW IS THIS NOT A GIGANTIC SECURITY THREAT?!
TheBonhamcarter
Islamic finance is the solution dear people. You don't have to be a Muslim to practice it. It is the best way to handle financing and not harm society. I am very proud of the way finance is structured in Islam. Read it online if you want to see it yourself.
treelishan
If you borrow money you've gotta pay it back right? Debt buyers only exist because of liberalism.
kuroshinozuji fudo
Capitalism ... yeah ...
Gillian Rosheuvel
"Nothing good happens in Excel." Too true.
Bobby Blankenship
Am I the only one watching this student debt
armanito09
In debt to who ??
No Nickname The Third
https://youtu.be/Vz1DcgqYo-0
Alex Shimla
Amazing man. John oliver u rule dude
mary north
American where you rather die then go seek medical aid because you don't want to go into debt. America where just going to a ER sends you into debt. Which I know so well
Gregory Dearth
Had a zombie debt from Sprint that took 3 years to finally figure out. I paid off my debt with Sprint and even had my service restored. But I was in collections with some 3rd party for that original account for years. It took many tries to get Sprint to send them a decease notice or update them. The debt collection would stop... for a while, and then some NEW 3rd party collector would start calling. I finally killed it off but it was quite frustrating.
John Grieco
To all the people who think he bought 14 million dollars of legitimate debt for $60,000...He did not. He bought 14 million dollars of debt that had past the statute of limitation, meaning that the debt was no longer legally owed. It still saved those people from having to deal with some hassle from debt collectors but ultimately they never would have had to legally pay that money.
Danny Ensch
Don't want this to happen? Don't get in debt
Thomas Byers
The weirdest thing. As I was watching this on YouTube my phone rang with a debt collector looking for someone who apparently owed money. When I said no one here by that name they said number would be removed and before I could ask how they got my cell number in the first place they hung up.
Bing Zhang
Oliver 2020!
AitWelloul Tripolitania
Basically the bankers just lost 15 million that would otherwise be used to buy even more debt.
if this continues there will be no more debt collectors around feeding on people's misfortunes 👍👍
The Red Roman
14:20 is a bit darker now...
Tanner Press
Anyone else think this is also ripe for idetity theft?
xWood4000
HBO invests a lot of money into this show. It probably makes up for it too though.
Deveshan Govender
could have used that money to build the wall
Horace Davis
Of course that asshole who wanted to, "define the term credit card... and other terms related to credit card usage," was a democrat. So one of the worst things in our nation for minorities is perpetuated by the people who claim to be for minorities. Its funny how these people are elected and reelected time and time again with no improvement. The reason for this is simple; self-preservation and control. If you fix the problems that you promised to solve, there is no more need for you, so they get elected, make the problem worse without alerting anyone, and then get reelected based on the promise that they will fix the problem.
GreenArt4
To say Communism or other alternatives to capitalism are better than it is wrong. To say that capitalism is a perfect system is wrong as well, especially for the American brand of capitalism. So long as company/bank/oil lobbyists continue to have influence over creating/modifying laws in the United States, it'll be a downwards spiral for the poor and the shrinking middle class, as the rich get richer and richer.
Prasoon Shrestha
This is something me and my family have been hugely affected by.
amombi florence
i got some really cools stuffs here http://www.debtzone123.cf
Jizzbucket Turdburglar
In reality, the true value of the debt he forgave was roughly 0.005 x 14m = 70k$. The value of the debt can't be assumed to be the original total sum of the loans but rather an estimate of what can realistically be collected.
quest 34667
lolol
Daniel Pinto
Can we buy our own debt ?
Maddy 6119
This episode needs to be titled- Debtception !
P Lane
Just buy your own debt back a fraction of the price. Debt cleared
Mark Hilliard
We now have a new contender for the iron throne.......King John the first of his name lol
lorna nunez
John oliver I need u to look into the casinos cheering unregulated business.
lorna nunez
John oliver.. I hope u love ur job. as much as I love listening to you
Drool Alot
Debt can kiss my ass... I don't do debt....... You lose
C00kii0
My mom and dad had a debt collected problem. When I was 14 I remember getting a call on my phone asking for my dad. I said I don't know who they were looking for and they then proceeded to say my name and threaten to take me to court I hung up and my mom took them to court because the debt was played and now they were harassing me and my older brother
Dove Girl
hahaha i like Excel ....such funny show!
Robert Jantz
Exploitation artists... Engage the BBB 1st then your local representatives as needed. I've forced them to back down... it is possible... don't give in and pay.
Joshua Labuschagne
$80K in crippling debt for hospital bills? The U.S. is absolutely backwards when it comes to healthcare.
Charlie Prokop
What you call "disturbingly easy" I call the free market working. We should deregulate the industry and focus on protecting the rights of consumers.
Reaction1s
I would like to point out that within the contract, the signer voluntarily gives up any right to recourse. According to the UCC law this lawful.
Abraham Wilberforce
Medical Debt, something we Europeans thought, it would not exist!
Mauro Corbani
It's amazing how americans don't realize that their health care system is fucked up. Amazing.
Jenny Lane
is it wrong that i got choked up when JO revealed what he was going to do with the debts they'd bought? ....cos i yelped
Liberty Springs
So awesome! I would send a letter to each person about the debt forgiveness and feature a few examples on another episode. Bet you'll get some real tearjerker stories.
FriedrichHerschel
Business idea:
Set up such a company, buy debt very cheap. You get the adresses of these people, so make them a deal: you've paid 0.5 ct per $, so say they pay you 1 ct per $ and you call it even. No need to be greedy, there's enough debt to still make you a millionaire this way. You still double your investment (with a little work put into it calling them, paperwork and such). If I offer you to make go away your 100,000 % debt for only 1,000 $, wouldn't you jump at the opportunity?
dark hail storm
8:58 I believe that Joe Steele is actually a translation of Josef Stalin
Justin Nehls
1 2 3 awful
3.14 Dragon
Fuck, I just realized I could have a massive Social Security hack SO EASILY.
Nabillio96
Why do banks sell the debt? Aren't they losing money if they sell it for cheaper than what the actual debt is? And also how come some people on the video who were under debt just forget about the debt until someone (debt collector) calls them about it?
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