AMARILLO, Texas (KFDA) - Financial distress on people hit with mounting medical debt is on the rise and can be an extreme burden on families. There is, however, an effort to lift that burden.
Chances are good that you know someone struggling with debt arising from health and medical issues.
The numbers are staggering – roughly two thirds of bankruptcies in the nation directly result from a medical crisis, affecting more than 500,000 American families every year.
Many people are simply overwhelmed by the financial burden, as the chances of overcoming the debt seem hopeless. Hope, as it turns out, may indeed be on the way.
Josh Butler of Butler Benefits explains an exciting campaign aimed at relieving the burden of medical debt.
He explained that medical debt can be disastrous.
He has partnered up with a nonprofit charity called RIP Medical Debt that has found a way to purchase and then forgive mounting medical debt.
Over time, medical debt is bought and traded, each time for less of a cost.
The charity can sometimes purchase debt at one percent of the value. In other words, $1 can purchase $100 of debt, which is then forgiven.
The goal of the campaign is to erase some monumental medical debt for people right here in our area.
Mr. Butler added that once the debt is acquired, it is forgiven.
The goal is to raise $15,000 to relieve debt of $1.5 million for people in Potter and Randall counties.
To get involved and help with this campaign, you can visit the Butler Benefits website or give them a call.
Can you imagine getting a letter that tells you that the medical debt that has been weighing you down and smothering you for so long has just has been forgiven? Talk about receiving Good News!