‘I Don’t See No Future’: Hundreds of Taxi Drivers Left in Debt as Lenders Balk at Loan Deal
A historic debt relief deal was meant to rescue cabbies from a medallion value crash. But some lenders are insisting drivers pay off loans in full, even if they can’t afford to.
Elias Schisgall · September 3, 2024
Between 250 and 400 drivers remain left out of the city's medallion debt deal. | Taton Moïse
Taxi and Limousine Commission chair David Do speaks at a rally to mark taxi drivers’ new debt relief bill in September 2022.
| Screengrab from City Hall video
“We’re not going to tie ourselves down for 25 years with no way out.”
—Alex Korenkov, manager of S & R Medallion Corp.
“Sometimes I just want to file for bankruptcy, because I cannot do it anymore.”
—taxi driver Lorenzo Ponce
Elias Schisgall is a rising senior at Harvard College and an associate managing editor at The Harvard Crimson, where he previously covered the Harvard faculty and local politics in Cambridge, Mass. He formerly served as a Summer Reporting Fellow at the Provincetown Independent… more