These days, medical bills become a serious money issue. Most of the people are struggling to pay off their medical bills after meeting basic expenses. As a result, these medical bills get piled up and become a serious financial obligation. Even routine checkup becomes costly now. People without health insurance struggle most of the times. They don’t even know how to overcome this overwhelming medical debt.
When do problems start?
At First, hospitals and doctors collect medical bills directly from their clients, but later on, they contact debt collection agency for collection. A debt collector or a collection agency work on a commission basis. They get money on the basis of what they collect. So debt collectors often use many tactics for collecting the debt. They start sending letters to the debtors containing many wrong words. Mostly these letters are false. But they are a big headache. Sometimes, lawsuits can be filed against medical debt. But, settlements are available even after the lawsuits are filed.
Why debt settlement?
Well, through this process, you can reduce the principal amount of medical bills by up to 30 to 50 percent.
How can you get the reduced amount?
When you sigh with a debt settlement, the company starts negotiating. The debt settlement company will conduct the negotiation carefully in writing or over the phone. Thus, it will help you succeed in settling the bills.
How can you proceed?
You can settle your medical debt on your own or take help from a debt settlement firm. The process allows you to negotiate the medical bills with creditors to get a reduced amount also to remove the charge-offs. The debt settlement plan makes easier for you to pay off the medical debt and to save a certain amount of money as well. The negotiation for the settlement can be done over the phone or through writing a letter. If the negation occurs over the phone, then you can get an immediate response. Written negotiation creates a paper trial. After the negotiation, you’ll get a written agreement that includes the balance you have agreed to pay and the due dates.
If you seek professional help then call Oak View Law Group.
Why Oak View Law Group?
- This firm has experience financial coach who can assist you to get proper financial insights. If you’re doing wrong with your personal budget, then you can get the right assistance too.
- Once you contact OVLG, a financial coach will hear your problem and explain you how can you get out of your overwhelming medical debt.
- You’ll know many options from that concerned financial coach. The coach will explain you the process to enroll in a medical debt settlement program and its benefits as well.
- If you enroll in the program, the expert will start negotiating with the creditor as early as possible.
- The whole process is very transparent. You’ll need to open a trust account where you need to give a certain amount of money. Then the firm will take care of your medical debt and you’ll be debt free after a certain time.
Experts tips to remember to stay away from medical debt
- Before making payments for medical bills to the hospital or payment provider, gather all your medical bills and go through them.
- Analyze each charge on your medical bills and make sure there are no false charges. It has been seen that hospitals add charges for services that you have never received or physician-ordered tests that you have never undergone. So, check all your medical bills to ensure that records are correct.
- Contact your doctor or hospital and ask them if they can offer you any program that will help you clear your medical bill debt faster.
- You can request your doctor or hospital to offer you a new repayment plan that will help you pay off your debt easily.
Tips to remember to pay off medical bills on your own
- Negotiate properly with creditors to reduce the outstanding balance on your debt so that your monthly payment becomes manageable and you can pay easily.
- Find out if there is any government program in your state that would help you paying off your debt. If there is any, contact your doctor or hospital and inform them that you are going to apply for the aid of the government.
- Take advantage of the government program like the Federal Government Health Resources and Services Administration program and clear your medical bill debt as soon as possible.
- Find out if you can qualify for any charitable assistance that helps people paying off their medical bills. If you are under-insured and have the income below 200 percent of federal poverty guidelines, then seek help from nonprofit Dispensary of Hope. They help people to receive a prescription at no charge.
- You may also take help from a nonprofit agency that will help you in negotiating with creditors or insurers without charging fees for services.
- Search on the internet to find out nonprofit groups. You can visit the website www.patientadvocate.org.