In a 2016 episode of HBO's Last Week Tonight, host John Oliver struck a deal that turned a $15 million medical‑debt portfolio into a $60,000 purchase, a move that exposed the low‑cost mechanics of the debt‑buying industry. The transaction was routed through CARP Inc., a newly formed Mississippi‑based collection agency that cost the producers only $50 to set up and passed all state‑level checks with little scrutiny. By buying the debt for a sliver of its face value, Oliver demonstrated how third‑party collectors can profit while the original holders—patients—remain unpaid.
CARP Inc. snapped up the accounts from Texas hospitals for a single payment of $60,000, even though the bills totaled $14,922,261.76. The agency’s lack of prior experience did not bar it from operating; regulators were unaware of its origin, allowing the purchase to go through unimpeded. The move highlighted how collectors can acquire massive portfolios for pennies on the dollar, a practice that fuels a cycle of debt and collection calls for millions of Americans.
Instead of sending the usual letters of demand, Oliver pressed a red button on stage to transfer the entire portfolio to Undue Medical Debt, a nonprofit founded in 2014 by former collectors Craig Antico and Jerry Ashton. The charity mailed letters to roughly 9,000 patients, informing them that their medical bills had been wiped clean and that no tax liability would arise from the cancellation. "As a former collector, I know the system’s loopholes," Antico said, noting that the stunt brought national attention to the charity’s mission of erasing debt for those earning less than twice the poverty line.
The broadcast set a new record for the largest financial giveaway on American television, eclipsing Oprah Winfrey’s $7.9 million car giveaway in 2004. Since then, Undue Medical Debt has partnered with the Campaign to End Medical Debt and the National Alliance of Healthcare Purchaser Coalitions to buy debt from hospitals, with local governments in New Jersey, Kentucky, Arizona and Cook County pledging public money to erase billions in medical debt. CARP Inc. was dissolved and its records handed to Undue Medical Debt, ensuring the accounts cannot be pursued again.