Atlanta Hawks star cancels more than $1 million of medical debt in the city
Posted: Wed Jan 8, 2020 6:12 pm
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ATLANTA — Atlanta Hawks star Trae Young has partnered with RIP Medical Debt to relieve more than a million dollars in past due medical debts for people in Atlanta who cannot afford to pay them.
“The city of Atlanta has welcomed me with open arms,” said Young. “Giving back to this community is extremely important to me. I hope these families can find a bit of relief knowing that their bills have been taken care of as we enter the New Year.”
RIP Medical is a 501(c)(3) nonprofit started in 2014 by two former debt collectors that uses donated funds to purchase portfolios of bundled medical debt on the secondary debt market for pennies on the dollar.
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It specifically buys accounts for those most in need (individuals: two times or below the federal poverty level, insolvent and/or with debts that are five percent or more of gross annual income).
Young donated $10,000 through the Trae Young Foundation to target relief in theGreater Atlanta Area.
Through this charitable act $1,059,186.39 of medical debt will be erased.
The average amount abolished is $1,858 for 570 people. Those benefiting from relief will receive a branded, RIP yellow envelope, which landed in Atlanta on January 3.