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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThese Former Debt Collectors Decided to Ditch the Industry, Buy Up Medical Debt, and Forgive It
http://www.nationofchange.org/2015/08/20/these-former-debt-collectors-decided-to-ditch-the-industry-buy-up-medical-debt-and-forgive-it/When Paola Gonzalez received a phone call from RIP Medical Debt, she was certain what she heard was a mistake. A prank, maybe. The caller said a $950 hospital bill had been paid for in full: It would not affect her credit and she wouldnt have to worry about it again. They wanted to pay a bill for me, she said. I was just speechless.
The 24-year-old student from Roselle Park, New Jersey, has lupus, a chronic autoimmune disease that in 2011 put her in and out of hospitals for a year. Even with insurance she faces a barrage of medical bills that often get pushed aside. I cant always work, Gonzalez said. Ill be fine today and sick tomorrow. Its really amazing that people would help out like this.
We decided we should take the debt collector out of the equation.
Gonzalez is one of many people who have had a debt paid by RIP Medical Debt, a nonprofit founded by two former debt collectors, Jerry Ashton and Craig Antico, that buys debt on the open market and then abolishes it, no strings attached. In the year since RIP Medical Debt started, the group has abolished just under $400,000, according to Antico. On July 4, it launched a year-long campaign to raise $177,600 in donations, which it will use to abolish $17.6 million of other peoples debt.
Millions of people are, in Ashtons words, sitting at the kitchen table and you have to decide, Do I buy medication today or do I pay the water bill or do I pay the debt collector? We decided we should take the debt collector out of the equation.
It works like this: typical collection agencies will buy debts from private practices, hospitals, and other collection agencies that dont find it worthwhile to pursue the debt themselves. The buyers often get a steal, buying a debt for pennies on the dollar while charging the debtor the full amount, plus additional fees.
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These Former Debt Collectors Decided to Ditch the Industry, Buy Up Medical Debt, and Forgive It (Original Post)
eridani
Aug 2015
OP
TubbersUK
(1,439 posts)1. Fantastic:
..........$177,600 in donations, which it will use to abolish $17.6 million of other peoples debt.
silverweb
(16,402 posts)2. Wonderful!
[font color="navy" face="Verdana"]Similar to Occupy Wall Street's Rolling Jubilee, but for medical bills.
Kind, giving, generous people do outnumber the selfish and greedy ones. They just don't make as much noise. I know who I'm allied with!
Live and Learn
(12,769 posts)3. Shame that this is currently needed but it is. Kudos to them. nt
Enthusiast
(50,983 posts)4. Kicked and recommended!
eridani
(51,907 posts)5. Occupy the Debt did something similar. What I really wish is that--
--these groups would do much more formal public outreach. I would certainly donate my occasional widow's mite to help others retire medical debt.