The State of Connecticut joins New Orleans, Louisiana; Pittsburgh, Pennsylvania; Toledo, Ohio; and Cook County, Illinois, in using funds from the American Rescue Plan to eradicate medical debt
The State of Connecticut joins New Orleans, Louisiana; Pittsburgh, Pennsylvania; Toledo, Ohio; and Cook County, Illinois, in using funds from the American Rescue Plan to eradicate medical debt
From here: USA what is the average price paid by collection agencies for debt - Search (bing.com) I am not going to get into the merits or otherwise of whether the poor should be charged the exorbitant prices charged by medical facilities for treatments and price gouged big pharma chemicals.
A question is what price will CT negotiate to clear the debt. This ET article says $6.5 million of federal tax payer dollars will be used (American Rescue Plan Act) for $1,000 million of debt. That’s a lot less than 4%. The article doesn’t seem to mention how much if any of CT taxpayer money will be used to relieve 250,000 of their fellow residents of their financial burdens.
Connecticut to Become First State to Cancel Medical Debt, Governor Says
Since debtors whose notes have been sold to debt collectors have no contract with the acquiring (purchasing) agency, answering any call from them may be the last thing they may want to do. Even a response letter from a debtor could dismiss these debt collectors as interlopers and not recognized as a party to any loan contract. The next step could be for the would be debtor to demand that proof of claim be delivered from the would be creditor within a set time period or forfeit any presumption of claim. They really don’t like that. Lol.
A question is what price will CT negotiate to clear the debt. This ET article says $6.5 million of federal tax payer dollars will be used (American Rescue Plan Act) for $1,000 million of debt. That’s a lot less than 4%. The article doesn’t seem to mention how much if any of CT taxpayer money will be used to relieve 250,000 of their fellow residents of their financial burdens.
Connecticut to Become First State to Cancel Medical Debt, Governor Says
https://link.theepochtimes.com/mkt_app/us/connecticut-to-become-first-state-to-cancel-medical-debt-governor-says-5579739
Since debtors whose notes have been sold to debt collectors have no contract with the acquiring (purchasing) agency, answering any call from them may be the last thing they may want to do. Even a response letter from a debtor could dismiss these debt collectors as interlopers and not recognized as a party to any loan contract. The next step could be for the would be debtor to demand that proof of claim be delivered from the would be creditor within a set time period or forfeit any presumption of claim. They really don’t like that. Lol.