Abolish Washington State Medical Debt
Every dollar you donate forgives $100 in Medical Debt
Our country is facing a public health pandemic and it’s difficult to know what to do about it. 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.
We have already seen the far-reaching economic consequences in our markets, but many people will be saddled with enormous new debts as they seek treatment. We know that American’s are less likely to seek medical care if they already owe previous medical debts. More than 60% of bankruptcies in America have medical debt as a root cause.
The situation is especially dire in the state of Washington as one of the leading locations of COVID-19 outbreak in the US. We’ve identified $8 million of existing medical debt that we can clear away responsibly, which will cost roughly $80,000.
This campaign is an effort to clear away as much existing medical debt as we can access throughout the state to provide a form of economic relief to Washington residents and to help people feel more confident about seeking treatment should this virus infect them personally, or others in their family.
The unofficial motto of Washington is the indigenous phrase “Al-ki” or “Bye and Bye.” Many historians have taken this phrase to indicate a yearning for progress and a prosperous future, something which truly embodies the spirit of Washington State. Despite the uncertainty of the times, we know that now more than ever, Washington State residents are looking for a way to gather with their communities to build a better tomorrow. There is no doubt that all Washington residents are eager to lend a hand to those burdened by the staggering unemployment rates and mounting medical costs associated with the virus. However, the rippling and devastating impacts of the COVID-19 virus can often leave us unsure of how we can support our most vulnerable neighbors in times of quarantine and isolation.
How You Can Help
RIP Medical Debt uses your donations to purchase bundled medical debt portfolios on the secondary debt market, and then forgives that debt at pennies on the dollar.
On average, $1 is leveraged to abolish $100 in medical debt, and every donation through this page will be spent directly on abolishing medical debt in Washington.
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. A recent beneficiary wrote to us, saying:
“I read my letter over a few times to make sure it was the real thing. Receiving this debt relief renewed my faith that I can get back on track. It jump-started it – that we can do this – I can get back in the game! It’s unheard of what RIP does, and it’s a game changer in the medical world. It’s a game changer for me.”
— Reagan, RIP Medical Debt Recipient of Debt Relief
Every dollar you contribute is a $100 investment in Washington towns and cities. Money will stay in the community instead of being taken by out-of-state debt collectors. On average, $32.87 can abolish the medical debt of an entire family, allowing them to invest in a home, schooling, or retirement.
Campaign Support Recipients
- David H. just donated $150.00
- Anonymous just donated $65.00
- Anonymous just donated $256.62
- Jim S. just donated $256.62
- David H. just donated $200.00
- Quinn S. just donated $51.49
- Kelly C. just donated $1000.00
- David H. just donated $200.00
How RIP Works
You make a donation
With every donation, RIP uses its precise data analytics to pinpoint the medical debt of those most in need of relief: households whose income is below twice the federal poverty line or are insolvent.
RIP buys medical debt at a steep discount
Your donations allow us to buy debt in bundles. That allows us to buy debt at a fraction of the original cost. So whatever you donate has 100x the impact.
Together we wipe out medical debt
People receive a letter that their debt is gone. No taxes. No penalties. Just like that, they're free of medical debt.
Yes. We are a 501(c)(3) charity and your donation is 100% tax deductible.
When we purchase a portfolio of medical debt, we abolish debt for individuals who:
- Earn less than 2x the federal poverty level (varies by state, family size).
- Debts are 5 percent or more of annual income.
- Facing insolvency — debts are greater than assets.
We only buy debt that has been pre-qualified by our partners to meet at least one of these three criteria.
We never collect on debt we purchase, only forgive it.
Learn more about how RIP works in this short video.
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 forgiven, the forgiveness is a gift from a detached and disinterested third party (RIP) as an act of generosity, so forgiveness 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 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.