Better Get Baquero: News 4 Is Erasing $2 Million of the Tri-State's Medical Debt - NBC New York
Better Get Baquero

Better Get Baquero

Have a problem? Then you Better Get Baquero. Watch weekdays on News 4 New York

Better Get Baquero: News 4 Is Erasing $2 Million of the Tri-State's Medical Debt

Better Get Baquero: News 4 Is Erasing $2 Million of the Tri-State's Medical Debt

If you’ve ever been to the emergency room, you know the cost of a single visit can leave you feeling worse than before you got there. Medical debt is a huge problem -- one in five Americans have it.

Simply put, it’s the biggest cause of bankruptcy in the United States. That’s why News 4 has decided to do something to help address it.


HELP PAY IT FORWARD


If you challenge a hospital bill for $10,000, the hospital might sell that debt to a collector at a discount, leaving the collector to come after you for the money.

But over time collectors sell on debt to other collectors, paying less and less each time. Eventually, the debt can be bought for pennies on the dollar.

That's where a unique not-for-profit steps in. RIP Medical Debt, which is based in Rye, uses charitable donations to buy batches of medical debt for a fraction of face value and then cancel it. 

Better Get Baquero: Erasing $2M of Your Medical DebtBetter Get Baquero: Erasing $2M of Your Medical Debt

A federal study estimates 43 million people in the U.S. are haunted by unpaid medical debt. But a unique nonprofit based in New York called RIP Medical Debt is helping debtors by using charitable donations to buy batches of medical debt for a fraction of the face value and then cancel it. Lynda Baquero reports.

(Published Sunday, Feb. 25, 2018)

Now, the NBC Universal Owned Television Stations Group, which owns WNBC, is making a $150,000 donation to RIP Medical Debt, which will let them retire $15 million in debt. That includes $2 million in the tri-state.

RIP does have some criteria -- they look for people who are at double the federal poverty level or below, or who owe more than they own, or who are otherwise in some kind of hardship. (As RIP buys the debt without knowing who the debtors are, it's not possible to sign up or to request your specific debt be relieved.)

Those who get their debt relieved will receive a yellow envelope from RIP Medical Debt in the mail letting them know that the specified debt (but not necessarily all of their debt) is gone.

HELP PAY IT FORWARD

NBC is not collecting or receiving any information provided in the fields below. This goes directly to the charity.



Get the latest from NBC 4 New York anywhere, anytime