NYC to Wipe Out $2 Billion in Medical Debt for Up to 500,000 Residents
- New York City plans to wipe out $2 billion in medical debt for up to 500,000 residents
- It's working with nonprofit RIP Medical Debt to buy debt in bulk and forgive it
- Goal is to tackle a top cause of personal bankruptcy
- City will spend $18 million over 3 years on the debt relief program
- No application process - recipients will be notified debt has been erased