How you can help St. Louisans pay off medical debt - KMOV.com

How you can help St. Louisans pay off medical debt

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ST. LOUIS (KMOV.com) -- As News 4 continues to hear from viewers dealing with medical debt, we are also hearing from people around St. Louis who want to help with this growing issue.

At his West St. Louis County law firm, Quinn Estate and Elder Law, Brian Quinn helps seniors plan for retirement, and he sees many people facing the same problem.

“Medical debt is definitely a reality,” says Quinn.

Craig Antico, founder of the non-profit RIP Medical Debt, sees the problem nationwide.  His company tries to help with the problem, by buying and forgiving millions of dollars worth of medical debt from debt collectors.  Working with a donation of $12,500 from KMOV, Antico purchased more than $1 million worth of medical debt for 512 people around the St. Louis area. It's possible because medical debt is sold by hospitals to debt collectors, often for a fraction of what's owed. 

For instance the hospital would sell off a $100 debt to a debt collector for $1. Then the debt collector would work to collect the entire $100 debt. Antico and RIP Medical Debt can also buy bad debt from investors for pennies on the dollar, then abolish it. As a non-profit, RIP Medical Debt, depends on donations. 

That same message resonated with Quinn.  “We're not debt negotiators, we can't provide that kind of solution. What I saw was an opportunity to partner with another entity, RIP Medical Debt, that could provide that solution” said Quinn.

Tuesday morning, after News 4's initial report aired on Monday night, Quinn donated $250 to the cause. That donation will eliminate upwards of $25,000 worth of medical debt for individuals around St. Louis.

Even if it doesn't help one of his clients, Quinn hopes it will help someone in need. “What it does it give them peace of mind, a burden lifted off their shoulders,” said Quinn. 

If you would like to donate and help got to www.kmov.com/debtdonation

If you are dealing with medial debt or if you received a letter from RIP Medical debt, email us at mymedicaldebt@kmov.com.

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