Medical debt is potentially a large burden for many Americans—with 44 million individuals holding an aggregate $75 billion in medical debt. While these nominal amounts are staggering, it is unclear to what extent medical debt harms financial well-being. Medical debt recovery rates are low, suggesting that the pure “balance sheet” cost of medical debt is modest for most individuals. Yet medical debt may harm individuals through lower credit scores, higher interest rates, and reduced access to credit—impairing economic opportunities and perhaps even locking individuals in “debt traps.” Collaborating with RIP Medical Debt, a non-profit that buys and abolishes medical debt, we will implement a randomized-control trial (RCT) to study the impact of medical debt. Medical debt will be forgiven for randomly chosen “treated” individuals, while collections efforts will proceed as normal for “control” individuals. Outcomes will be measured using credit bureau data. This study complements the trial registered as AEARCTR-0003332. While the other study focuses on older debt (typically more than 2 years old), this study focuses on the purchase of younger debt (typically less than 2 years old).