26 Jul Medical Debt Collectors Are Eager To Settle
Settle your medical debt directly with the Doctor or Hospital for pennies on the dollar. Do it yourself debt settlement saves you money. Medical collection departments are strapped for cash. Once they exhaust insurance coverage, the self-pay balance, that portion of the debt owed by the patient, is negotiable.
Call your local medical account department and try to work out a low monthly payment plan. If you can offer a lump sum payment that same day you might be surprised to find some collectors will accept as little as 10 percent of the balance.
Doctors and hospitals rarely collect their own debt. As the account ages, it goes through various steps of collection, depending on the company. Some medical providers have an in house collection department. Others outsource to a local law firm. Still others sell the debt to third party debt buyers. At each level, the original medical creditor is forced to share more of the amount collected, down to a nickel or dime on the dollar when the debt is sold. Many collectors tell me that 10 percent paid immediately will close out an account.
Give it a try and save your self some money.
Andy Miofsky, Esq.
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