ORANGE COUNTY, Fla. — It's a story you're all talking about, Action 9's Todd Ulrich, buying $1 million in medical debt and providing relief to families in need.
On Thursday, on Eyewitness News at 5:45 p.m., Ulrich explained how medical debt collections haunt one of every five Central Florida families.
Collection agencies buy much of that debt for pennies on the dollar and demand payment in full.
One listener called and asked, "as a charity, can someone buy debt?"
"Generally, debt collectors sell debt in portfolios, so it’s difficult to go buy a specific person's debt, "Lee explained, "however, it’s not difficult for companies to create a debt collection company and go buy those debts."
In order to collect the debt, you must be a licensed debt collector, Ulrich explained. It is not possible for a patient to buy their medical bills for pennies on the dollar; it must be bought in bulk and under certain guidelines.
Letters will be mailed next week to hundreds of Central Florida families, informing them that their debt has been forgiven. They’ll receive a yellow envelope with "RIP Medical Debt" printed in the corner.
Those who receive such a letter should not throw them away; they should click here to share their story with Action 9.
Watch the full 96.5 reporter below:
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