City of Toledo close to finalizing deal to cancel medical debt

Leaders are close to nailing down a partnership with RIP Medical Debt, a non-profit that buys debt for pennies on the dollar.
Published: Jun. 1, 2023 at 6:55 PM EDT
Email This Link
Share on Pinterest
Share on LinkedIn

TOLEDO, Ohio (WTVG) - City of Toledo is getting very close to nailing down contracts to get the process of forgiving medical debt going, according to a city spokesperson.

The city will be working with RIP Medical Debt. It’s a non-profit company that buys the debt for pennies on the dollar and then informs people whose debt has been forgiven. The City of Toledo will be using federal American Rescue Plan Act funding for this.

A city spokeswoman tells 13abc the grant agreement has been finalized between the city and RIP Medical Debt and is expected to be signed by both parties this week.

That’s when RIP will build the portfolio of who will have their debt forgiven and the city will get what is essentially an invoice. An RIP spokesman says they’re still in talks with local hospital systems to purchase the debt. The hope is to start forgiving that debt this summer.