“If you are able to … save $2 billion in debt, that $2 billion trickles down to those households, who are not going to fall into our safety net,” he said. “They’re not going to fall into our homeless system.”
I’d love to see how this program impacts safety net programs over the next few years. $18mm seems inexpensive if it means even a fraction of the $2bn goes back toward spending in the city.
Probably the important quote of the article:
I’d love to see how this program impacts safety net programs over the next few years. $18mm seems inexpensive if it means even a fraction of the $2bn goes back toward spending in the city.
What’s more insane is how there’s even a market to buy this debt for pennies on the dollar.
Private insurance was a mistake.
Seems like I should be able to buy my own medical debt for pennies on the dollar.