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Undue Medical Debt, formerly RIP Medical Debt, [1] is a Long Island City–based 501(c)(3) charity [2] focused on the elimination of personal medical debt. [3] Founded in 2014 by former debt collection executives Jerry Ashton and Craig Antico, [4] the charity purchases portfolios of income-qualifying medical debt from debt collectors and healthcare providers, and then relieves the debt. [5]
RIP Medical Debt uses donations to purchase inexpensive bundled debt portfolios that would normally be sold to collection agencies. The nonprofit only buys the debts of people who earn less than ...
An anonymous donor partnered with the United Neighborhood Centers on a $1.2 million donation to the national nonprofit Undue Medical Debt. Formely known as RIP Medical Debt, the organization used ...
RIP Medical Debt was founded in 2014 by a pair of former debt collection agents. Since inception, it has acquired and forgiven more than $10.4 billion in medical debt owed by 7.1 million ...
A 2019 study published in the American Journal Of Public Health found that 66.5% of personal bankruptcy filings over a three-year period were tied to medical debt. "What we're seeing at RIP ...
The nonprofit looks for bundled packages of debt from first or third party agencies which the group negotiates to purchase at discounted prices (pennies on the dollar). The two women initially raised $12,500 and used this money to purchase $1.5 million of medical debt through RIP Medical Debt, which was then forgiven. [33]