NJ wipes out over $1B in medical debt for 629,000 people

🔰NJandnon-profitUnduebuypast-duedebt🔰Fourthroundlargestyet🔰Another$927MinmedicaldebterasedTRENTON–NewJerseyandanonprofithaveannouncedtheirlargestroundyetofmedicaldebtrelief—wipingout$927millionofpast-duebillsfor629,000NewJerseyans. TherehavebeenfourwavesofreliefthroughthepartnershipwithUndueMedicalDebt,eliminatingacollective$1.1billioninmedicaldebtsincelastsummer. Thistime,thepast-duemedicaldebtwaspurchasedfromRWJBarnabasHealthandfromthesecondarydebtmarket,using$5.8millioninAmericanRescuePlanfederalfunds. ThefirsttworoundsannouncedinAugustandOctober2024saw$220millioninmedicaldebteliminatedfor127,000NewJerseyresidents. OnFriday,Jan.31,theadministrationannouncedathirdroundofmedicaldebtrelief,totalingover$26millionforanother20,000NewJerseyresidents. Insteadoftryingtocollect,Undueerasesthedebt,sendinglettersinthemailoverthecomingweeks. Overhalfamillionhouseholdswillbenotifiedthatsomeoralloftheirmedicaldebthasbeenabolished. U