[Bigg Red]

In a drive attended by 8,000 people, the church raised $16,000 – wiping out $1.6 million in medical debt.

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Now, that is some creative accounting there.

[originalbuckeye]

Each of the 8,000 people donated $2?

[OrangeHoof]

There’s obviously a donor who pledged in matching funds. Charities have done this before. No big deal but it is an incredibly nice act for the person/enterprise who agreed to wipe out the debt.

[originalbuckeye]

I did then go read the article. Some debt company bought the debt for pennies on the dollar. They then allowed the $16,000 to clear the debt. Until I looked, I really couldn’t figure out their creative accounting.