Can You Settle The Medical Debt?
Plenty of studies & personal experiences say that it is simpler to negotiate with a doctor or a hospital than it says a credit card company or mortgage lender. Doctors & hospital are much less likely to go thru the technique & expense of suing you, they have an inclination to be more sympathetic to your situation, & do not require the bad publicity.
Millions of families file bankruptcy every year due to overwhelming medical bills. The bankruptcy filings are often caused by them either having no medical insurance or being underinsured. However, even plenty of people with medical insurance can be overwhelmed. In case you are of those struggling, & you cannot afford to pay your medical debt or doctor & hospital bills, you ought to be able to reduce the amount you owe through a debt settlement program or company. With a debt settlement program, you can negotiate either yourself with the medical provider or you can use a third part company to do this. The aim is to lower the total balance you owe on your debt & to also agree to a repayment plan that will meet the needs of both parties. You can save as much as 60% & avoid bankruptcy.
What are the benefits
The benefits are plenty of. Without help, you can default on your bills, possibly be sued and ruin your credit. Or you could file for Chapter 7 bankruptcy which is damaging to your credit score and the bankruptcy will stay on your credit document for up to ten years. You may lose all of your assets from a bankruptcy filing, not be able to take out future loans, a low credit score can hurt you when looking for a job, and in general, you may need to start all over.
Affect of Unpaid Medical Bills on Credit Report
Medical bills include financial obligations to doctors, hospitals, testing facilities, laboratories and ambulance firms. Sometimes these bills make their way onto your Experian, TransUnion and Equifax credit reports if you refuse to pay them. Unpaid medical obligations hurt you as badly as other delinquencies if they show up in your credit bureau files.
Medical Debt Collection Process
Like any unsecured creditor, a medical provider may turn your account over to a collection agency, or sue you in court for unpaid medical bills. Once a creditor obtains a court judgment against you, the creditor can request that the court garnish your wages, and place liens on your property in order to collect on the judgment.
Settle Unpaid Medical Debt
Like other debts medical debt can be eliminated by taking proper guidance through some experienced debt settlement company.
Medical debt can be eliminated by taking help from professional debt negotiation, debt settlement and debt counseling company. Ooraa is a professional Debt Settlement company which will negotiate with the creditors on the behalf of our customers and provide services to decrease maximum amount of debts by taking reduction. We convince creditor about your financial crises and take creditors to some middle way normally waving off the interest and pay back only actual amount in easy installments.