
Josh Allen photo via charitybuzz.com.
Written by Gabriel Dillard
Firebaugh’s Josh Allen is getting into the debt relief business, with an eye toward uplifting the very fans that have supported his meteoric football career.
Buffalo Bills superstar quarterback Allen is partnering with Colorado-based public benefit corporation ForgiveCo to forgive $10 million in consumer debt. People saddled with “debt of necessity” in the Fresno area; Wyoming, where Allen played college ball; and Buffalo, New York, will be the beneficiaries.
Before Craig Antico founded ForgiveCo last year, he ran companies that bought and collected consumer debt for profit. His newest platform partners with brands to forgive the debt of individuals in hardship, buying it in bundles for cents on the dollar as debt collectors do. It is then written off.
ForgiveCo strikes debt from a variety of sources, including mortgage, credit cards, utilities, auto loans, fines and high-interest lending.
Allen contributed toward the $10 million in debt to be forgiven, which translates into an average of $3,847 relieved for 2,600 people, according to a news release. Those benefiting from the debt forgiveness will receive a branded letter from ForgiveCo and Allen. Letters are expected to hit mailboxes by the end of the year. Consumers can not apply for forgiveness.
“Coming from a small town and now living out my dream playing football, I recognize that I owe a debt of gratitude to the fans for their support not only each Sunday but also their continued support of my off-field endeavors,” said Allen. “I was honored when ForgiveCo approached me with a chance to uplift thousands of hard-working Americans in the communities that support me by alleviating the burden of debt from their lives.”
Antico, one of Town and Country magazine’s Philanthropists of the Year in 2018, previously ran a similar debt forgiveness program called RIP Medical Debt that raised more than $150 million to abolish $7 billion in medical debt owed by four million people in hardship or poverty.
“Launching ForgiveCo™ debt transformation services today with this initial $10 million of debt forgiveness, begins a new era where brands can make a life-changing impact for everyday Americans who have fallen on unfortunate debt hardship,” said Antico. “Since 2012, I have helped pioneer ways to forgive debt through non-profit models, but ForgiveCo is an all-new commercial endeavor that enables brands of all budgets to do good in a new way that brings them closer to the communities and customers they serve. Our public benefit is our service, and we look for brands to use our community marketing tool to build on this moment and connect with consumers they care about.”