Help Us Help Others and Abolish Medical Debt Today - RIP Medical Debt

Help Us Help Others and Abolish Medical Debt Today

Every dollar you donate forgives $100 in Medical Debt

$0
raised of $5,000 goal
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Campaign Created ByVulcan Kapital

The Problem 

In the past forty years, medical costs have doubled, insurance copays and deductibles have spiked, and bankruptcy rates have quadrupled, creating an avalanche of destructive medical debt. More than 60% of bankruptcies in America have medical debt as a root cause. The effects of high healthcare costs are especially dire in Indiana and throughout the US. Nearly 50% of U.S. adults delayed or skipped medical care due to the high cost, 50% of U.S. adults wouldn’t be able to afford an unexpected $500 bill, and 66% of bankruptcies cite medical debt as a leading cause.

Medical debt has been the leading cause of American bankruptcy for years. In 2013, a CNBC report revealed that unpaid medical bills would affect the finances of two million people in one year. Even of those who do not file for bankruptcy, an estimated 56 million adults will suffer in some way because of medical expenses, which accounts for more than 20% of the American population between the ages of 19 and 64.

Unfortunately, the financial strain of medical attention in the United States has led many Americans to find ways to avoid medical treatment. Whether it is skipping the doctor and hoping the issue resolves itself or deciding to live with the problem, people are taking desperate measures to avoid plunging into bankruptcy because of their medical bills.

One of the desperate measures is not taking prescription medications. Even for people with insurance, the deductibles on medications can be extremely high, especially if you are taking a less common drug. Manufacturing processes change continuously, and the co-payment for a medication you have been taking for years could suddenly rise exponentially.

How Does It Work

  • You make a donation
    • We use data analytics to pinpoint the debt of those most in need: households that earn less than 4x the federal poverty level (varies by state, family size) or whose debts are 5% or more of annual income.
  • RIP buys medical debt at a steep discount
    • We buy debt in bundles, millions of dollars at a time at a fraction of the original cost. This means your donation relieves about 100x its value in medical debt.
  • Together we wipe out medical debt
    • People across the country receive letters that their debt has been erased. They have no tax consequences or penalties to consider. Just like that, they’re free of medical debt.

How You Can Help 

  • You can make a direct donation to RIP Medical Debt through the donate button above, or file your Federal and State taxes through our website https://vulcankapital.com/ for $25 flat fee and we will donate 20% of all revenue collected through our online business to RIP Medical Debt.
  • RIP Medical Debt uses your donations to purchase bundled medical debt portfolios from some hospitals and the secondary debt market, and then forgives that debt for pennies on the dollar. On average, $1 is leveraged to abolish on average $100 in medical debt, and every donation through this page will be spent directly on abolishing medical debt.
  • When debt relief recipients open the yellow envelope from RIP, they are told that their debt has been bought by a third party and erased with no strings attached. They owe nothing on the debt and face no tax penalty.
Campaign Support Recipients
Indiana
$0
raised of $5,000 goal
0%

Fundraise for This Campaign

Start a fundraiser to help those in need. Set a personal fundraising goal and track online donations easily with RIP.

How RIP Works

Over a hundred million Americans, one in three, struggles with the weight of medical debt.

  • You make a donation

    We use data analytics to pinpoint the debt of those most in need: households that earn less than 4x the federal poverty level (varies by state, family size) or whose debts are 5% or more of annual income.

  • RIP buys medical debt at a steep discount

    We buy debt in bundles, millions of dollars at a time at a fraction of the original cost. This means your donation relieves about 100x its value in medical debt.

  • Together we wipe out medical debt

    People across the country receive letters that their debt has been erased. They have no tax consequences or penalties to consider. Just like that, they’re free of medical debt.


Frequent Questions

Yes. We are a 501(c)(3) charity and your donation is 100% tax deductible.


Relevant Documents:

When we purchase a portfolio of medical debt, we abolish debt for individuals who:

  • Earn less than 4x the federal poverty level (varies by state, family size).
  • Debts are 5 percent or more of annual income.

We only buy debt that has been pre-qualified by our partners to meet at least one of these criteria. 

We never collect on debt we purchase, only relieve it.

No. With your help, we abolish medical debt permanently. Recipients have no adverse tax consequences, obligations, or strings attached.

For those whose medical debts are relieved, the relief is a gift from a detached and disinterested third party (RIP) as an act of generosity, so relief of the debt does not count as income to the debtor. We will not file a Form 1099-C with the IRS.

Due to HIPAA laws, RIP Medical Debt cannot disclose the names, contact information or any other specific details of the debt relief beneficiaries.

RIP Medical Debt cannot relieve debt by individual request.

While we would love to help everyone who needs assistance, RIP Medical Debt cannot abolish medical debt for specific individuals. We approach the problem of medical debt by acquiring large portfolios of debt to help thousands of people at once.

Because medical debt affects so many people who may not have debt accounts in the portfolios we purchase, we have compiled a list of resources that may be able to help in ways RIP Medical Debt cannot.

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