Debt collectors can buy medical debts (bundled) for pennies on the dollar and then try to collect the full amount from the patient. Instead of taking advantage of people who are already struggling, RIP Medical Debt, a charitable foundation, is buying the bundled medical debts and forgiving/abolishing the debt.
They cannot choose which debts to purchase but do have a formula for selecting a bundle for pennies on the dollar ($10 can purchase a bill of $1,000). They then notify the patient that their debt has been abolished.
Finally, good news for the ridiculous cost of medical care here in the U.S.
Many T.V. and radio stations are participating in donations to the RIP cause.
