The Problem: In the past forty years, medical costs have doubled, insurance copays and deductibles have spiked, and bankruptcy rates have quadrupled, creating an avalanche of destructive medical debt.
More than 60% of bankruptcies in America have medical debt as a root cause, and the problem is especially dire in Florida.
Studies found that Florida has some of the highest healthcare costs in the country, and one of the highest uninsured rates.
From carefree Okaloosa Island to sunny Miami Beach, Florida feels like paradise. And when you're living in an oasis, it can be easy to forget that many people around you are struggling. While others are saving for retirement in the Keys or splurging on a night in South Beach, debtors are forced to split their paychecks with debt collectors, working nights and weekends to pay back a debt they incurred through no fault of their own. People saddled with medical debt can be denied loans, apartments, or even jobs, making it difficult to advance in life and often impossible to escape their debt.
RIP’s Solution: RIP Medical Debt uses your donations to purchase bundled medical debt portfolios on the secondary debt market, and then forgives that debt at pennies on the dollar.
On average, $1 is leveraged to abolish $100 in medical debt, and every donation through this page will be spent directly on abolishing medical debt in Florida.
When debt relief recipients open the yellow envelope from RIP, they are told that their debt has been bought by a third party and erased with no strings attached. They owe nothing on the debt and face no tax penalty. A recent beneficiary wrote to us, saying:
"I read my letter over a few times to make sure it was the real thing. Receiving this debt relief renewed my faith that I can get back on track. It jump-started it – that we can do this – I can get back in the game! It's unheard of what RIP does, and it's a game changer in the medical world. It's a game changer for me.”
— Reagan, RIP Medical Debt Recipient of Debt Relief
Join the movement to abolish $1 billion in medical debt by 2020: Every dollar you contribute is a $100 investment in Floridian towns and cities. Money will stay in the community instead of being taken by out-of-state debt collectors. On average, $15.40 can abolish the medical debt of an entire family in Florida, allowing them to invest in a home, schooling, or retirement.
Who We Are: RIP Medical Debt is a national 501(c)(3) nonprofit organization that locates, buys, and forgives medical debt. We empower donors to relieve oppressive medical debt in their community for individuals who are below twice the federal poverty line, have debts greater than their assets, or have debts greater than 5% of their annual income.
RIP Medical Debt is unique in its expertise but needs continued support from generous donors. Compassion drives the work of RIP Medical Debt and every dollar is highly leveraged with a ROI of 100:1. Let’s abolish medical debt in Florida together. For good.
Please see the rest of the FAQ below and visit www.ripmedicaldebt.org for more information.
