Posted on 04/15/2023 7:18:30 AM PDT by Twotone
A church in North Carolina has again unburdened thousands of families who were struggling with medical debt, setting their obligations ablaze.
Trinity Moravian Church in Winston-Salem bought up and canceled nearly $3.3 million in medical debt belonging to 3,355 families.
According to the Dispatch, this is the second year that members of the church have taken part in the Debt Jubilee Project, which assumes past-due medical bills of residents in the area. Through the project, congregants previously purchased $1.65 million of debt, liberating 1,356 people in Forsyth and Davidson Counties.
When an individual fails to pay down an outstanding medical bill, the medical company that is owed will frequently hire a debt collection agency. When the agency similarly fails in its collection efforts, the debt is sometimes sold to a third-party collection agency for pennies on the dollar to help recoup the loss.
The Dispatch indicated that these third-party agencies have the legal right to either collect or forgive the debts. In partnership with RIP Medical Debt in New York, the Debt Jubilee Project exercised its right to do the latter.
congregants previously purchased $1.65 million of debt,
https://debtjubileeproject.org/
RIP Medical Debt has strict requirements for the debt that can be purchased. One (or both) of the following requirements must be met:
Household income is less than 4x the federal poverty level (varies by state, family size).
Debts are 5 percent or more of annual income.
While individual debts are verified to be part of the portfolio purchase, we cannot target specific families or individuals. This is basically a wholesale approach to medical debt which requires purchase of a large portfolio of debts.
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So the church purchased the debt, for pennies on the dollar, and then forgave it all. Good for them.
I wonder what the church paid for the $3.3 million in debt and if you can buy your own debt and then forgive it.
What a great story.
Church just purchased lifetime menbership of families for pennies on the dollar in future donations.
finally a good church story.
Stunned what Obamacare didn’t pay for it OH WAIT that’s only for illegals.
Wish my church had done this - after a large land sale of a defunct church within its district - instead all the money was funneled to Africa (about $1.3 million).
I’d still be a member if they’d done this.
Maybe we can pressure them millionaire private jet televangelist con artists to do likewise
Yea, it’s amazing how people with big money do so little of use with it. Including millionaire televangelists!
The Profit Driven Church........
Blessings
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