5 organizations erasing millions in medical debt
Two-thirds of all U.S. bankruptcies stem from medical debt, and one-quarter of all U.S. credit card debt is medical, according to nonprofit RIP Medical Debt.
Since its launch in 2014, organizations have been teaming up with RIP Medical Debt to erase medical debts for local community members. For every $100 donation, RIP Medical Debt relieves $10,000 in medical debt.
The New York City-based nonprofit limits its debt purchases to people who earn less than twice the poverty level, have out-of-pocket medical expenses that total more than 5 percent of their income or face bankruptcy.