Medical bills debt settlement is often necessary. In many situations, those with or without insurance may face substantial medical bills they simply cannot pay in full. Settling those debts is possible, in many instances. There are two main options for settling this debt, doing it alone or working with a professional company.
To get the medical debt settled for less than what you owe, contact the company directly. Work through a process such as this:
If the company is not interested in settling the debt with you directly, it may be wise to use a third party organization or attorney to help you to settle the medical debt. Keep in mind that you will need to provide the medical company with facts about why you cannot pay the debt you owe. You may be able to encourage this by showing the company your budget, outlining your income and expenses.
If you are likely to file bankruptcy if you cannot reach medical bills debt settlement, tell the company this. However, never imply this if you are not likely to follow through.
In some situations, it is best to contact a debt settlement company to handle the negotiations for you. The company's experience and know how may help to ensure that the settlement is accepted. You will pay a fee for using this service, but if you are unable to get the medical company to accept your settlement offer, using a third party company is the best route to take.
Making the decision to obtain medical bills debt settlement is a significant one that will have long term financial consequences, including an effect on your credit score. Before making a decision to use this method to settle a debt, talk to an attorney. You will need to ensure that the settlement is legally binding, to ensure that the medical company cannot try to collect on the debt further. An attorney can help with this process.