Life After Debt
Programs and results
What we aim to solve
America is the only developed nation in the world where it's citizens have to live in fear of the financial implications of illness. Life After Debt is a 501(c)(3) charity that was formed for a single purpose: To help put an end to medical and predatory debt. The industry of medical debt is a stain on our economy and nation that takes advantage of those in a time of need. Mounting medical debt is sold and resold, by and to collection agencies who threaten and harass patients, oftentimes while they are still in recovery. This leads to ruined credit, bankruptcy or worse. Our mission is to finally put an end to the disgusting practice of profiting off illness.
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Michigan Medical Debt Relief Program
LAD is raising $13,000 to help forgive 3.5 Million in debt that includes over 2000 Michigan residents
Where we work
External reviews
Our results
How does this organization measure their results? It's a hard question but an important one.
Dollar amount of total loans written off
This metric is no longer tracked.Totals By Year
Context Notes
We were recently granted non-profit status and were not active in 2017
Total dollars received in contributions
This metric is no longer tracked.Totals By Year
Context Notes
We were recently granted non-profit status and were not active in 2017
Average change in client credit score
This metric is no longer tracked.Totals By Year
Context Notes
We were recently granted non-profit status and were not active in 2017
Average number of dollars per person served
This metric is no longer tracked.Totals By Year
Context Notes
We were recently granted non-profit status and were not active in 2017
Goals & Strategy
Learn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
Collection agencies purchase bundled portfolios of defaulted medical debt and make huge profits off the suffering and hardship of others. These predators (or predebtors as we call them) will collect hundreds of times the amount they paid to acquire specific debts. At LAD we locate and purchase this same debt but rather than collecting on it, we forgive it entirely with no strings or tax implications attached. After the debt is forgiven we work directly with the recently relieved and help them to repair the damage done to their credit, finances and lives.
What are the organization's key strategies for making this happen?
We rely on funding from individuals, businesses and organizations to make our mission possible. LAD targets a 1:250 ratio of funds raised to debt forgiven which means that a donation of $100 forgives up to $25,000 in debt. Additionally, LAD fundraises separately for our operational expenses to make sure that every penny donated on this site goes directly to forgiving medical debt.
What are the organization's capabilities for doing this?
We are a newer organization that was just recently granted non-profit status but our network is large. Our leaders have extensive experience with over 40 years combined working in mortgages, finances and non-profits. We have seen first-hand the damage that medical debt does to consumer credit and are skilled in negotiating with a large network of debt brokers to purchase medical debt protfolios at rates typically reserved only for large debt collection agencies.
What have they accomplished so far and what's next?
As an organization that was just granted non-profit status our accolades are limited but we are excited to forgive over 10 million dollars in medical debt in 2018.
Financials
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Operations
The people, governance practices, and partners that make the organization tick.
Connect with nonprofit leaders
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- Analyze a variety of pre-calculated financial metrics
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Connect with nonprofit leaders
SubscribeBuild relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.
- Analyze a variety of pre-calculated financial metrics
- Access beautifully interactive analysis and comparison tools
- Compare nonprofit financials to similar organizations
Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.
Life After Debt
Board of directorsas of 04/29/2019
Carl Larson
Life After Debt
Term: 2017 -