About Our Fundraiser:
The Westminster Middle School Class of 2020 is raising money from now until June 1 to abolish $1.5 million in medical debt through the non-profit RIP Medical Debt. The good news is that every dollar donated eliminates $100 of medical debt right here in Oklahoma City. Donating to RIP Medical Debt helps those who make less than two times the federal poverty level or have debts greater than their assets. More than 60% of all bankruptcies have medical debt as a root cause. This debt can make it impossible for those families to get the credit they need to buy a house or car and become more productive citizens in our city. So, please, help us in helping our community with our debt problems.
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.
Please see the full RIP FAQ below and 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 "Westminster School's OKC Campaign."
RIP Medical Debt / 80 Theodore Fremd Ave. Rye, NY 10580
You can contact Jane Lee at firstname.lastname@example.org with any questions about your donation.
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 $1.4 billion in medical debt for individuals across the U.S., impacting over 650,000 families.
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.
- We have specific programs for veterans and active service members of the US military.
- 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 debt does not count as being income to the gift recipient.
RIP Medical Debt's Federal Tax ID: 47-1442997
Westminster School's Campaign to Eliminate $1.5M of Medical Debt in Oklahoma, Cleveland, and Canadian Counties has reached its fundraising goal of $15,000.00!
Westminster School donated $8,913.14 to Westminster School's Campaign to Eliminate $1.5M of Medical Debt in Oklahoma, Cleveland, and Canadian Counties
Claudia San Pedro donated $1,000.00 to Westminster School's Campaign to Eliminate $1.5M of Medical Debt in Oklahoma, Cleveland, and Canadian Counties
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