stethoscope on money

How to Buy Medical Debt: Meet the People Saving Others from Bankruptcy

Is mounting medical debt preventing you from getting ahead in life? Studies show that one in six American adults are in the same boat as you. In fact, Americans’ total medical debt is now a jaw-dropping $81 billion.

Crushing medical debt is killing credit scores all over the country. It’s also preventing Americans from getting the necessities they need to maintain their health.

More people are learning how to buy medical debt to get their fellow Americans out of the red. This has made a world of difference for families shattered by debt.

Entrepreneurs, charities, and even debt collection companies are all getting involved in wiping out medical debt. Learn more about the debt relief movement that’s sweeping the nation.

How This Teen Is Making a Difference

High school seniors may not be old enough to vote, but that didn’t stop Talia Zames from raising over $20,000 for medical debt relief. The now 18-year-old started raising awareness after her family was struck with a $150,000 visit to the emergency room.

Zames and her grandmother read about a couple of women in New York who raised over $1.5 million in medical bill relief. Inspired by the story, Zames launched “Project Eraser” during her senior year of High School. She set an original goal of $15,000 and managed to raise $20,000, exceeding expectations.

Talia is another shining example of how today’s teens are tackling the country’s issues head-on.

RIP Medical Debt

The movement to wipe out fellow Americans’ debt really got off the ground with a project called RIP Medical Debt.

RIP Medical Debt is a nonprofit that pays off medical bills for struggling Americans. This is made possible by donations from around the country.

People want to help with crushing medical debt, and RIP Medical Debt was just the answer. RIP Medical Debt also partners with young leaders like Talia Zames to raise money for debt relief.

RIP Medical Debt has raised an impressive $1 billion in medical relief for poverty-stricken Americans. So, who’s the brainchild behind this nonprofit? The backstory has an interesting twist.

The project was actually started by two debt collection executives. Having seen the devastation, Jerry Ashton and Craig Antico came up with a unique idea that could lift the burden from the nation’s most vulnerable citizens, and pay off their medical debt.

The two former execs started RIP Medical Debt in 2014. Soon, they began fundraising and using donations to purchase medical debt, which they would turn around and forgive with no tax obligations.

They look for medical debt portfolios from individuals most in need. The New York nonprofit also receives thousands of requests from all over the country.

Want to Learn How to Buy Medical Debt?

More individuals, businesses, and nonprofits are starting to take action. If you want to get involved, look for projects and charities in your area that are buying medical debt. Some religious institutions have already paid off millions in medical bills.

There are also debt assistance providers that can help with a debt collection related lawsuit. These providers work with consumer protection attorneys to enforce Americans’ rights against overzealous collection agencies.

Give the Gift of Debt Relief

There are so many ways to give. Why not pay the crushing medical debt of struggling families? Learn how to buy medical debt, so you can uplift those who need it most.

Check back often for more ways to save, and how to use your thriftiness to help others in need!