Josh Allen helping folks get out of debt.

[Captain Hindsight]

57 minutes ago, The Jokeman said:

Can you go on balanced billing? 

I looked into that and I have a friend that did it. RGE had the same bill each month then in December, they "corrected it" and it was 200 bucks higher.

[teef]

i have school loans.  i'll be waiting for my check in the mail.

[WhoTom]

1 hour ago, HOUSE said:

My electric bill is killing me 

 

Josh will come over to help you find your wallet. Or your checkbook.

 

 

[RobbRiddick]

Big deal. 

 

I heard via a Chiefs fan that Mahomes is feeding 5000 poor and hungry people with 1 fish and a single loaf of bread. Let's see Allen beat that

[DrDawkinstein]

This is great. But to be clear, Allen is NOT writing a check for $10M.

 

He is signing on a s spokesperson to help legitimize a new (but established) charity venture. And he is kicking in some cash to help buy $10M worth of debt for far lower cost.

 

Debts usually sell at a percentage of their value. This charity already does this with medical debt, where they buy a bunch at a small price and then forgive it.

 

Good on Josh no matter what. This is a great organization doing good things. But it's not simply writing a check.

[Einstein]

4 hours ago, eball said:

Why am I not surprised?  I don’t care how much he’s spending…he’s doing something (for which he gets no significant tangible benefit) that will help folks in need.

 

17 is the real deal.

 

 

The benefit is the positive publicity.

Thr article mentions that celebrities and brands use this organization to help people pay off debt. Brands don’t do anything out of the goodness of their heart. Josh Allen may have though.

[Tanoros]

10 hours ago, PromoTheRobot said:

https://www.wivb.com/sports/buffalo-bills/josh-allen-to-help-eliminate-over-10-million-of-debt-in-buffalo-wyoming-california/

 

He's kicking in $10MM.

At the end of the article it said donating $20,000 can help relieve up to 1 million in dept. That leads me to believe Josh didn’t just hand over 10 million. Sounds like it was around $200,000. That makes much more sense than 10 million. 

[CLTbills]

11 hours ago, PromoTheRobot said:

https://www.wivb.com/sports/buffalo-bills/josh-allen-to-help-eliminate-over-10-million-of-debt-in-buffalo-wyoming-california/

 

He's kicking in $10MM.

In reading the article, actually looks like he's kicking in $200k, which relieves about $10 million worth of debt. "The PBC also reports that with a $20,000 investment, they can forgive $1 million in debt."

 

Still awesome. Spending $200k more than I am, and making a real difference in people's lives. Could you imagine getting that letter in the mail? "Your $100k worth of debt has been relieved by Josh Allen"

 

Holy smokes.

Edited December 7, 2022 by CLTbills
typo

[MJS]

1 hour ago, Einstein said:

 

The benefit is the positive publicity.

Thr article mentions that celebrities and brands use this organization to help people pay off debt. Brands don’t do anything out of the goodness of their heart. Josh Allen may have though.

Big companies do often have a percentage of their budget dedicated to philanthropic efforts, which includes donating to charities and non-profits. Regardless of the motivation, the result is helping people. I am not going to complain about why or why not they choose to do it.

 

I have worked for a non-profit for almost a decade now, and a third of our funding comes from the private sector. Nearly all of my interactions with private sector business leaders have been positive, and they have seemed sincere in wanting to position their company to help. Yes, there are some that focus on ROI, but the majority have just wanted to make sure that budgeted money goes to a worthy cause that can do the most good.

 

Corporations are not always these evil monsters that we make them out to be.

[WhoTom]

6 hours ago, CSBill said:

Basically, the lien-holder sells the bad (uncollected) loan to the organization for pennies on the dollar--the price is negotiated and is driven by how eager lien-holder is to get the bad loan off their books. Through this transaction, the 3rd party buys and now owns the asset and the related loan. As owner, they now can do with it what they want. In this case, they forgive the loan and transfer ownership to the customer.

 

Exactly. John Oliver did a segment about this on his show, and the show subsequently spent $60k to purchase $15M in medical debt, which they forgave.

 

https://money.cnn.com/2016/06/06/technology/john-oliver-medical-debt/index.html

 

 

[Ridgewaycynic2013]

I sure hope Mr. Allen does better than the a****** on GR 550, who gave me the 'sure locks' Saturday morning. 🤨

*
😁

[BuffaloMatt]

I laid heavy money on the Miami, Minnesota and Jet games. Still chasing those loses. . . . Oh Joshy can Paulie get a crumb over here? 

[PromoTheRobot]

2 hours ago, RobbRiddick said:

Big deal. 

 

I heard via a Chiefs fan that Mahomes is feeding 5000 poor and hungry people with 1 fish and a single loaf of bread. Let's see Allen beat that

 

Dude is one-upping Jesus

3 minutes ago, Ridgewaycynic2013 said:

I sure hope Mr. Allen does better than the a****** on GR 550, who gave me the 'sure locks' Saturday morning. 🤨

*
😁

 

Speaking of that, I'm really disappointed in WGR putting that scammer on the air like he's one of their regular sports experts.

[Ridgewaycynic2013]

3 minutes ago, PromoTheRobot said:

Speaking of that, I'm really disappointed in WGR putting that scammer on the air like he's one of their regular sports experts.

Judging from when I get in the car, there seems to be multiple sports gambling infomercials on GR in that morning timeframe.  I may be incorrect.

[benderbender]

2 hours ago, RobbRiddick said:

Big deal. 

 

I heard via a Chiefs fan that Mahomes is feeding 5000 poor and hungry people with 1 fish and a single loaf of bread. Let's see Allen beat that

Quoting the book of Collinsworth 

[sonyab1974]

12 hours ago, PromoTheRobot said:

https://www.wivb.com/sports/buffalo-bills/josh-allen-to-help-eliminate-over-10-million-of-debt-in-buffalo-wyoming-california/

 

He's kicking in $10MM.

 

Awwwwwww! What a great guy he is!!

[RobbRiddick]

I hear Brett Favre is very keen to get involved in this

[RoyBatty is alive]

8 hours ago, CSBill said:

 

Yes, it's a combination of (1) the "magic of compound interest" (the 8th wonder of the world, according to Einstein), (2) lien-holders wanting to get out of bad loans, and (3) the philanthropic work by organizations [many large churches do this locally] like the one Josh is aligned with.

 

Basically, the lien-holder sells the bad (uncollected) loan to the organization for pennies on the dollar--the price is negotiated and is driven by how eager lien-holder is to get the bad loan off their books. Through this transaction, the 3rd party buys and now owns the asset and the related loan. As owner, they now can do with it what they want. In this case, they forgive the loan and transfer ownership to the customer.

 

So your investment of $10K to buy a bad $100K loan and forgive it, is a $90 investment return or gift (on the books).

 

Done the right way, it is wonderful way to make a powerful tangible difference in the lives of people. The key is having the right vetting process and administrative system that helps to be sure the process is working the right way.

Also not a bad tax write-off.

 

Great for Josh.  I imagine he/his agent get bombarded by all the requests.

[Matt_In_NH]

It sounds like he put up 200k to remove 10Mil in debt to random people from his hometown.  So this is high risk debt it sounds like...interesting.

[CSBill]

15 hours ago, Matt_In_NH said:

It sounds like he put up 200k to remove 10Mil in debt to random people from his hometown.  So this is high risk debt it sounds like...interesting.

 

Not always. Probably the best use of this system, and where it makes the biggest difference in good people's lives, is paying of outrageous medical bills.

 

For example, a young family with no, or low quality, health insurance has a baby born prematurely. The baby has all kinds of physical struggles because of the early birth and needs a lot of  specialized care and has to stay in the hospital month or two. We all know the ridiculous cost of medical care these days.

 

In my example, they could easily be running up a couple million dollar bill. No way they could ever pay it off and that debt will hang over them the rest of their lives. Organizations like this one will negotiate a settlement, again, pennies on the dollar, and pay off the debt for the family.

 

It's a great system and makes a huge difference in people's lives.

 

And, of course, if you feel led to pay off @HOUSE's electric bill, his wife would be very grateful for the help. Send me the money, I'll negotiate with his electric company.

 

 

Edited December 8, 2022 by CSBill