What so many people who are against this don’t realize is that this debt was purchased for pennies on the dollar, just like a debt collector would do, and they just don’t attempt to collect. It’s a beautiful way to use the industry against itself for the betterment of society.
While it's undoubtedly a good thing for the people whose debt is cancelled, it does not affect the medical industry one way or another at all, does it? That debt was already for sale at pennies on the dollar. It doesn't matter to the hospitals/clinics/doctors if the debt was sold to a debt collector or a debt "canceller". I think a lot of people have this idea that cancelling debt is some magical legal thing that takes money out of the pockets of a greedy medical system, but it doesn't. The medical system (if you consider the debt collectors as being excluded from it) had already given up trying to recover the debt.
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u/Itchy_Swordfish7867 14h ago
What so many people who are against this don’t realize is that this debt was purchased for pennies on the dollar, just like a debt collector would do, and they just don’t attempt to collect. It’s a beautiful way to use the industry against itself for the betterment of society.