One of the most common reasons for bankruptcy and high amounts of debt in the U.S. is due to unexpected medical bills. Even with health insurance, it can be difficult and even impossible for patients to pay the remaining balance out of pocket. Instead of going into debt or filing for bankruptcy, there are a few ways to pay the bills in full.
Negotiate the Balance
Many hospitals are willing to lower the amount owed on medical bills if you discuss the cost and explain your financial situation. Attempt to negotiate the balance and get everything in writing to protect yourself. You may also have more of an influence if you hire a lawyer and were injured due to someone else’s negligence.
Make Payments
If you can’t afford to pay for your medical bills in full, attempt to make payments by simply asking your medical provider for an installment plan. They’re more likely to agree to a payment plan than risk losing the money that they’re owed. This can help ensure that your bills don’t go to collections and hurt your credit score.
Seek Legal Help
If you were injured in am auto accident or on somewhere else’s property, you may not have to pay any of those bills. A lawyer can help you can the compensation you deserve in personal injury cases. This can help tremendously with finances and get you back on your feet sooner.
Apply for Assistance
Many organizations and hospitals offer assistance to low income patients who are unable to pay their medical bills. Contact the help desk for more information and to see if you qualify.
Perform an Error Check
Up to 40 percent of medical bills contain errors, which can increase the balance by up to 80 percent. Consult a medical billing advocate to see if you’ve been erroneously charged, which can help to reduce what you owe. Make copies of the records and ask the medical billing advocate to have it corrected while working on your behalf.
Ask for Donations
One of the most common ways that people have avoided debt in the past decade is with the help of crowd-funding, which requires asking family, friends, and the public for help. Set up a website and ask for donations for a practical way of avoiding debt or bankruptcy.
When it’s time to pay your medical bills, you can do so without as much worry or fret by utilizing a few tools that are available. By making smart decisions, you can avoid debt and relieve yourself of the responsibility of your high expenses. Informational credit to The Johnston Law Firm.
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