Equestrian Cooperative's Medical Debt Relief Fundraiser for Palm Beach County FL
About this Fundraiser
In Palm Beach County alone, thousands of Americans grapple between meeting their basic needs and paying off crippling amounts of medical debt. But what if we told you that a $30 donation could eradicate roughly $4,500 of medical debt for a military veteran in financial hardship? Or a single mother earning less than half the federal poverty level?
This February, join the Equestrian Cooperative and the Great Charity Challenge as we fundraise to dissolve the medical debt of about 1,200 people in our neighboring Palm Beach County. In working with RIP Medical Debt, a non-profit organization that buys medical debt at pennies on the dollar, our $34,000 goal would eradicate approximately $5 Million of debt at approximately $1.50 to the penny.
The fundraiser kicks off during the Great Charity Challenge on Feb. 6 and extends through the 20th. We look forward to you joining us on this journey of social activism. By working together, we can alleviate the financial burdens of those with whom we share our community.
Donate using the button above or mail a contribution to:
RIP Medical Debt
80 Theodore Fremd Ave.
Rye, NY 10580
Earmark your donation for this campaign by including a note or by writing "Equestrian Cooperative" in the memo line of a check.
Who Is RIP Medical Debt?
RIP Medical Debt uses donations to purchase bundled medical debt portfolios that have gone through collection agencies for months or years. Using third-party credit data providers, it targets debt incurred by people facing financial hardship, and then forgives it. On average, $1 is leveraged to abolish $100 in medical debt.
Who is RIP Medical Debt? RIP Medical Debt (RIP) is a national 501c3 nonprofit organization with a mission to empower donors to forgive the billions of dollars in oppressive medical debt at pennies on the dollar. RIP locates, buys, and abolishes destructive medical debt for individuals, veterans, and families. Since inception in 2014, RIP has relieved more than $2 billion in medical debt for individuals across the U.S., impacting over 1.7 million individuals.
How Does RIP Medical Debt Work? RIP, working with third-party credit data providers, searches through large debt portfolios to locate accounts meeting their criteria for relief. RIP then negotiates to buy millions of dollars of this debt at a steep discount, usually a penny or less on the dollar.
Facts about Medical Debt
42.9 million Americans have unpaid medical bills, which creates an adverse impact on debtor patients, physicians, and hospitals (Consumer Financial Protection Bureau)
Six in 10 of both insured and uninsured people say they have difficulty in paying other bills as a result of medical debt. Over a third were unable to pay for food, heat or housing because of medical bills. (Kaiser Family Foundation & New York Times)
Nearly two-thirds of U.S. adults under age 65, or 116 million people, had medical bill problems or debt, went without needed care because of cost, were uninsured for a time or were underinsured — insured but had high out-of-pocket medical expenses or deductibles relative to income. (Kaiser Family Foundation & New York Times)
Medical debt contributes to more than 60 percent of the bankruptcies in the U.S. Until satisfied, debt lingers on a person’s credit report to negatively impact their ability to buy a home, get a loan or even gain employment. (The American Journal of Medicine)
Whose unpayable medical bills does RIP forgive?
Individuals who make less than 2 times the federal poverty level
Individuals with financial hardship -- 5% or more of their annual income goes to out-of-pocket medical expenses
Individuals who are insolvent (debts greater to their assets)
Why Donate to RIP Medical Debt?
Your dollar goes a long way! On average, $1 abolishes $100 of debt.
100 percent of your donation goes towards abolishing medical debt.
RIP Medical Debt is a 501c3 nonprofit organization, and our EIN number is 47-1442997. Donations are tax-deductible as allowed by law.
There are no tax consequences for those whose medical debts are forgiven. The forgiveness is a gift from a detached and disinterested third party (RIP) is an act of generosity, so forgiveness of the does not count as being income to the gift recipient.
RIP Medical Debt's Federal Tax ID: 47-1442997
Disclaimer: In the event that a campaign is unable to meet RIP Medical Debt's local campaign contribution goal, all funds will be attributed to our national funds for general medical debt.