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When hospitals or physician groups have outstanding bills they have little chance of collecting from patients, they will go to a secondary market and sell their portfolios of debt for pennies on the dollar. Debt collectors can then step in, buy the portfolios, and resume the task of hounding patients for payments.
RIP Medical Debt, founded by two former debt collectors in 2014, is in the secondary market with a completely different goal after purchase: to forgive that debt.
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... They raised more than $17,000 by the end of August. While they couldn’t solve the systemic problem of crushing medical debt experienced by families, they could help make some of it disappear.
“It does show how fake debt is in some ways,” said Hirschberg of how cheaply they could buy millions in debt for so little.
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It seems to depend on whether your area is under the control of Dumbo cRat Woketards.It's a debt jubilee (for college students and hospital patients only apparently)!
The medical (and pharma) industries in the USA are whack and government (Medicare, Patent law) is a large reason for it. Taxpayers to get hooked paying for big pharma profits (again). I'm in the wrong business apparently.
That's the truth.The government steals my tax money and spends it however they chose, that sucks...
Bammykair could have been repealed, too.^^ Could get reversed after Trump's team takes over.
Dass da plan.They do realize that if you don't make people pay these bills, that there is no reason to pay them and they will also go out of business.
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