Owing large medical debts is awful. But A Fresh Start Law routinely settles medical debts for huge discounts. Or as an alternative, Bankruptcy can also eliminate your medical debts. Our goal at A Fresh Start Law is to give you peace of mind by eliminating your medical debts.
The stress of owing medical debts can lead to more health issues — a vicious circle. Luckily, there are options to solve your medical debts. At A Fresh Start Law, our team can review several ways to help you.
A Fresh Start Law can negotiate
A reduced lump sum settlement, or
Eliminate all medical debt with Chapter 7 or Chapter 13 bankruptcy.
Solving large medical debts requires professional help. But you don’t need to let medical debt overwhelm you.
Is Medical Debt Different From Other Debts?
Medical debt is often unexpected. You usually can’t wait for a pay raise or take a second job when you have medical debt. However, hospitals, testing companies, and other medical institutions receive most of their income from insurance companies. They also receive government funding and can be supported by charities. So payments from individual patients don’t matter as much to them. As a result, these providers aren’t very effective at collecting and often send bills to debt collectors.
But if you need to return to a doctor for care, you won’t want a negotiator to be too aggressive. While there are always other banks to offer you credit cards, who will you turn to for care if your doctor drops you? A Fresh Start has discovered that individual medical specialists are often decent and caring people who will be compassionate when settling your debts. But this won’t happen if the person negotiating the debt has the wrong attitude and isn’t sensitive to this issue. But the results of negotiating medical debts can be no different or even better than negotiating other debts.
Understanding how this collection process works for medical debts is crucial to reaching a fair settlement. At A Fresh Start Law, our team has effectively settled many medical debts for lump-sum payments.
In Bankruptcy, there is also significant differences between medical debt and other debt. If more than half of your debts are medical bills, you do not have to worry about the bankruptcy “Means Test” or when you made these debts.
What Are My Options to Resolve Large Medical Debt?
You have several options to resolve your medical debt. Many hospitals and providers can help you directly through charity or government programs. However, will they explain what option is best for you or suggest whatever is best for THEM? When you hire A Fresh Start Law, we represent you. Our goal is to find the best, most beneficial option for you.
We investigate solutions to resolve your medical debt. For example,
- Is your billing accurate? We check your billing statements for errors, gaps in your insurance coverage, and charges for unnecessary procedures or services you did not receive. Errors on medical bills are common. Without training in medical terminology or knowing medical procedures, you may feel like you are stumbling around in the dark. At A Fresh Start, the professionals understand medical bills and how they work.
- Payment plan myths: Medical providers and hospitals often will “agree” to “let” you make payments. They act as if that is a favor, and their patience is limited. Even if you pay faithfully every month, your account may go to a professional collection company at some point. When an account goes into a collection can destroy once perfect credit. Worse, many hospitals only give you a few weeks to contact them to make payment arrangements. If they don’t hear from you immediately, you could be sent to collections as soon as a week. So you may have no chance to set up payments. In addition, if you agree to make payments, you usually agree to pay 100% of the amount you owe, even though these providers typically give substantial discounts to insurance companies.
- Debt settlement: Negotiating a lump sum payment could let you pay much less on your medical debt. But to do this effectively requires experience. Sometimes we negotiate a very advantageous settlement that might be worth getting a loan or dipping into savings. For example, we might settle a $17,000 medical debt for $3,000. While we cannot guarantee any particular result, when A Fresh Start Law negotiates a settlement, you decide how much you are willing to offer.
- Bankruptcy: If your medical debt and other debts are enormous, Bankruptcy may also be an option. While no one enjoys going into Bankruptcy, it can be a logical choice when you cannot repay the debt in a reasonable amount of time. However, Bankruptcy should usually be your final choice, not your first option. At A Fresh Start, we offer credit rebuilding education to all our clients, including those who go into Bankruptcy. As a result, most people bounce back from Bankruptcy much sooner than they fear.
Our team can help you find what is your best option and help you move forward. We have extensive experience with several ways to obtain debt relief. Let our knowledge and familiarity with the numerous ways to solve medical debt problems be your resource for peace of mind. A Fresh Start lets you find medical debt relief.