Disappearing Medical Debt | Allison Sesso | Wondros Podcast EP 191
Originally aired on Feb 8, 2023
Jesse and Priscilla talk with Allison Sesso, CEO of RIP Medical Debt, a nonprofit organization that buys and forgives medical debt.
The United States has an industry for buying and selling debt, including medical debt, which hospitals sell to for-profit debt buyers. Once purchased, the debt can be collected on, often with the power of the court system to hold individuals accountable. Unfortunately, medical debt is a type of debt that individuals have little control over.
What is the state of medical debt in the United States?
- There is a marketplace for all types of debt, including medical debt.
- Debt is a foundational part of the economy in the United States.
- At least $195 billion of medical debt exists worldwide.
- Hospitals can sell medical debt to for-profit debt buyers.
- Debt buyers have the right to collect on the debt, often with the power of the court system.
- Medical debt is a type of debt individuals have little control over.
- This system has created a big problem for those who struggle with medical debt.