(SUWANEE, Ga.) – Connoisseur of Time business owners Paul Hoyt and his wife Brandi have partnered with RIP Medical Debt to relieve over $1.8 million in past due medical debts for Northern Atlanta families who are unable to pay them. They have purchased the past due accounts of 998 Gwinnett and Forsyth County families that will be forgiven in order to help free these fellow Georgians from the burden of medical debt.
Medical debt is a leading cause of bankruptcy in the United States. Two thirds of all personal bankruptcies are tied to a medical event, either because of high costs of care or because it caused the person to be out of work. Nearly forty percent of people living in the U.S. grapple with medical debt and that number is expected to rise because of the current pandemic.
“Families in our own North Atlanta communities are pushed to bankruptcy because of medical issues and bills. They’ve had this medical debt hanging over their heads. For many of them, it’s hurt their credit, forced them closer to bankruptcy, and added so much stress to their lives,” Mr. Hoyt said.
Sharing the reason for gift he said: “Our family, like many others, believes that they should feel loved because there is a God who loves them and who hasn’t forgotten them, even in the seasons when it feels like He must have. I hope this small elimination of medical debt will provide these families with a new sense of relief and margin.”
Hoyt wanted the gift to be a no strings attached gift. “We don’t want anything from them – we want something for them; we hope it will give these families more freedom to enjoy the life they’ve been given.”
The Hoyts are the owners of online-based watch company, Connoisseur of Time, which sells their large, high-end, curated collection of vintage watches and pre-owned luxury watches through their website.
RIP Medical Debt purchases past due accounts for Americans most burdened by un-payable medical debts. These are purchased in large, bundled portfolios for a fraction of each debt’s face value. Mr. Hoyt, who lives on the Forsyth County border, asked RIP Medical Debt to purchase all qualifying debt in Forsyth County and in the four closest zip codes in north and central Gwinnett County.
Those benefiting from the relief received a branded, yellow RIP envelope which stated that they no longer owed the debts and that what they received was a “no strings attached gift” and that taxes were not owed on the forgiven debt. RIP can unfortunately not relieve medical debts for specific individuals by request at this time.