The exchange for the debt economy
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Akron Mayor Shammas Malik announced Tuesday that nearly 17,000 residents will have their medical debt, totaling just shy of $20 million in relief, according to a press release.
Those who qualify will receive a mailed letter from Undue Medical Debt, formerly RIP Medical Debt, within the next two weeks.
WHO QUALIFIES
“In 2023, Akron City Council voted unanimously to partner with Undue Medical Debt, formerly RIP Medical Debt, to buy Akronites’ medical debt and erase it,” according to the press release from Mayor Malik’s office. “Undue Medical Debt purchased nearly $20 million of Akron residents’ medical debt for $115,000 which was paid for by the City of Akron. This debt was purchased from a variety of sources including health care providers and collection agencies. In order to qualify for debt relief, residents had to be at or below 400% of the poverty line (just over $100,000 a year for a family of three) or carry debt at or above 5% of their annual income. They also had to be Akron residents.”
According to a City of Akron press release, Undue Medical Debt can only erase qualifying medical debts from partners such as hospitals and debt collectors. Additionally, individuals are not allowed to request debt relief.
“Medical debt can weigh heavily on families, affecting their health, their finances, and their peace of mind,” said Mayor Malik. “By working together with Undue Medical Debt, we’ve lifted a major burden for thousands of Akronites. This debt relief will have an immediate, positive impact on our residents’ lives. I want to thank the members of Akron City Council and especially former Ward 1 Councilwoman Nancy Holland who helped spearhead this initiative with two medical students at Northeast Ohio Medical University, Max Brockwell and Emily Huff. Their passion really pushed this project forward and I’m grateful for their work.”
Here’s a sample of the letters being mailed to residents receiving debt relief:
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