HOW IT WORKS
Since it’s a detached third-party and a 501(c)(3) charity, there is no income reporting required or tax implications for those being helped. It’s a no-strings-attached gift to the beneficiary, with no future obligation to pay the debt.
Debt forgiveness is a collective message of care from and for the communities we serve.
We incorporated on July 25, 2014, as Medical Debt Resolution, Inc., a New-York-based not-for-profit doing business as RIP Medical Debt.
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.
Whose un-payable medical bills does RIP forgive?
Individuals with financial hardship - 5% or more of their annual income go to out-of-pocket medical expenses
Insolvent individuals (debts greater than their assets)
2,603 families will be receiving by mail, a wonderful gift, a YELLOW ENVELOPE containing a letter informing them that their medical debt has been abolished.
DO NOT THROW AWAY THAT YELLOW ENVELOPE.
It really is good news.
If you received a yellow envelope, we would love to hear from you
DO NOT THROW AWAY THE YELLOW ENVELOPE! In March there will be more Yellow Envelopes delivered to Collier and Charlotte County notifying you of your debt relief.
To unite the Christian community across all expressions of faith to work for the community’s common good.
To exercise grace by purchasing debt and forgiving it without asking anything in return.
To use the principal of “5 loaves & 2 fish” to take a little and benefit many. $1 = $100!