This year’s Easter offering will be designated to RIP Medical Debt.
RIP Medical Debt is a 501(C)(3) nonprofit whose sole purpose is to locate, purchase and then abolish unpaid and unpayable medical debt as a benefit to society as well as the recipient. RIP was launched on July 25, 2014, by two former collection industry executives who decided to put their industry experience and expertise to work to forgive debt rather than collect on it.
Working with third-party credit data providers, RIP searches bundled debt portfolios to locate accounts meeting our criteria for financial relief. RIP then negotiates to buy portfolios at a steep discount, on average a penny on the dollar. Prior to RIP’s purchase, these bills have passed through several collection agencies and months or years of collection pursuit. RIP offers to purchase these accounts at their present industry market value. The humanitarian difference is that once RIP buys this debt we forgive it on behalf of our donor.
An Amazing Bang-for-the-Buck return for the Benefactor! Considering that medical debt can be purchased for a penny on the dollar, as little as $10,000 will abolish $1 million worth of medical debt. In five years, RIP has raised enough money to abolish over $675 million for over 200,000 people (including $50,000,000 in Veteran debt in 2018 alone). Their stated mission is to find, buy and forgive $1,000,000,000 (yes, billion) in medical bills before 2020.
UCC congregations have identified this as a key mission to pursue and have partnered with RIP Medical Debt in the past. Want to learn more? Download additional information about RIP Medical Debt and watch this short video.