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Newly passed St. Paul budget includes $1.1 million for wiping away medical debt
The nonprofit can purchase bundles of debt from hospitals at a 100:1 ratio, meaning every dollar spent can cancel $100 in medical debt.
“The people who owe that money can’t pay it. They don’t have the means, so it is severely marked down, and that’s the magic of our model,”
Which means these folks now will spend a lot of that money in local shops and businesses.