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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 Indiana.
A 2017 study found medical costs are especially high in Indiana and are climbing quickly.
From the Hinkle Fieldhouse to the Allen County Courthouse, Indiana is rich with important culture history, and Indianans know the importance of preserving their past. The medical debt crisis doesn't just harm individuals, it devastates entire towns, draining money and resources that would have helped preserve local main streets and businesses. Debtors can be denied loans, apartments, and even jobs because of their credit scores, preventing them from fully succeeding in life. As health care costs grow, more money will go to out-of-state bill collectors and less will stay in Indiana, unless something is done to save those suffering from medical debt.
RIP Medical Debt’s Solution: 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.
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 Indianan towns and cities. Money will stay in the community instead of being taken by out-of-state debt collectors. On average, $13.04 can abolish the medical debt of an entire family in Indiana, 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 Indiana together. For good.
Please visit www.ripmedicaldebt.org for more information.
Want to make a donation by cash or check?
Please mail any cash or check (payable to "RIP Medical Debt") to the address below and make sure to notate on the memo line or letter that your gift is designated to "Jackson County, IN Campaign."
RIP Medical Debt / 80 Theodore Fremd Ave. Rye, NY 10580
You can contact Jane Lee at jlee@ripmedicaldebt.org with any questions about your donation.