Twenty-four organizations and donors relieved $35 million of medical debt for people in Arkansas through a partnership with nonprofit RIP Medical Debt, Arkansas Business reported Jan. 27.
For every $1 donation, RIP Medical Debt forgives $100 in medical debt.
The effort helps about 24,000 people in all 75 counties in the state and relieves on average about $1,500 per individual or family, according to Arkansas Business.
Arkansas Asset Funders Network, Arkansas Community Institute and Hope Policy Institute made the announcement.
"Our current medical and court systems trap Arkansans in debt, harming already vulnerable populations as well as our state’s economic future," Bill Bynum, CEO of Hope Credit Union, said in a news release, according to Arkansas Business. "We must enact bold policy changes to mitigate wealth-stripping practices that perpetuate debt cycles."