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Nonprofit buys $30B in medical debts, aiming to protect 20M Americans from collectors.
A nonprofit, Undue Medical Debt, has purchased $30 billion in unpaid medical bills for about 20 million people, averaging $1,100 per debt.
This deal, with Pendrick Capital Partners, aims to protect these individuals from debt collectors, particularly benefiting residents of Texas and Florida.
However, even supporters acknowledge this is not a comprehensive solution to the broader medical debt crisis affecting around 100 million Americans.
3 weeks ago
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