NEW YORK, N.Y. -- RIP Medical Debt announced a national campaign today that will forgive $250 million in medical debt across the country before the year’s end. This is the biggest medical debt abolishment in the history of the United States and was made possible by one couple’s generous donation.
RIP Medical Debt is a nonprofit that qualifies and helps groups of individuals and families by buying large portfolios of debt from medical providers and debt sellers on the debt market (for pennies on the dollar) and forgiving it. As little as $1 donated to RIP can alleviate $100 of medical debt. The debt is removed from credit reports and can no longer be collected on.
The couple responsible for the charitable donation said, “Catastrophic illness strikes people in all walks of life without warning. Paralyzing medical debt hits people when they’re down, turning tragedy to travesty. A quarter billion dollars is just the tip of the immense iceberg of debt submerging millions of Americans in a sea of hopelessness that can adversely affect the course of their illnesses, damaging their ability to recover. We only wish that we could do more. We pray for a day when disease is the only thing patients will need to fight and the one-two punch of life-threatening illness and overwhelming debt will no longer face so many of our fellow Americans.”
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