Social Impact

According to the Urban Institute, Medical debt can be a significant barrier to financial health. In 2012, nearly 30 percent of nonelderly adults said they had an outstanding, past-due medical bill. Since then, the economy has improved, and health insurance coverage has increased yet, the overdue medical debt still affects millions of people from building credit, get the health care they need, and even to afford basic needs. Additionally, in the past forty years, medical costs have doubled, insurance copays and deductibles have spiked, and bankruptcy rates have quadrupled, creating an avalanche of medical debt. More than 60% of bankruptcies in America have medical debt as a root cause. The problem is especially dire in Indiana. A 2017 study found medical costs are very high in Indiana and are climbing quickly. Medical debt destroys the financial stability of large segments of America’s most vulnerable communities: the sick, the elderly, the poor, and veterans. It also targets the middle class, driving many families who are barely getting along into poverty. Medical debt is not the result of bad decisions. It is a debt of necessity. Medical debt crisis does not just harm individuals, but it devastates entire communities, draining money, and resources that would have helped preserve local main streets and businesses. Debtors can be denied loans, apartments, and even jobs because of their credit scores, preventing them from fully succeeding in life.

Vulcan Kapital has partnered with RIP Medical Debt which is a national 501(c)(3) nonprofit organization. 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 Indiana. 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.

Every dollar you contribute is a $100 investment in Indianan towns and cities. Money will stay in the community instead of being taken by out-of-state debt collectors. On average, $13.04 can abolish the medical debt of an entire family in Indiana, allowing them to invest in a home, schooling, or retirement.

RIP Medical Debt is a national 501(c)(3) nonprofit organization that locates, buys, and forgives medical debt. We empower donors to relieve oppressive medical debt in their community for individuals who are below twice the federal poverty line, have debts greater than their assets, or have debts greater than 5% of their annual income. RIP Medical Debt is unique in its expertise but needs continued support from generous donors. Compassion drives the work of RIP Medical Debt and every dollar is highly leveraged with a ROI of 100:1. Let’s abolish medical debt in Indiana together. For good. Please see the rest of the FAQ below and visit www.ripmedicaldebt.org for more information.