2 Things To Do When Medical Debt Takes You By Surprise
Life is full of unforeseen possibilities. Despite taking the best of preparations, you may find yourself in a state of mess. Take, for instance, the case of medical debt. It doesn’t come to you by choice. More often than not, it happens to be the outcome of an unanticipated illness. Either an illness or a staggering accident may lead you on into a debt-prone situation. As a result, you will find it difficult paying your dues. There is one more antecedent that contributes to the health-related debt burden. It so happens that you find yourself in the grip of a chronic disease. In that case, what may happen is that bills keep adding up, but you are clueless to find a solution.
Facts to Note
According to a study conducted in 2005, as many as twenty-two million people pending medical bills. A similar study conducted in 2010, shows an alarming increase in number by another eight million; thus taking the net figure to thirty million people. Research-based evidence points out that in general, forty percent of the adult population has issues clearing their health-related dues. The figures have lots to reveal about the preponderance of the debt-prone situation. Mind you; you are not alone. There are several others like you who are battling out the consequences of a medical debt.
Consequences to Follow
By a stroke of bad luck, you have gotten yourself into a mess, but now you should know how to deal with the situation. Do take note of the practicalities of the situation. Some of the medical organizations are pretty aggressive when it comes to the question of collecting the overdue. They may contemplate taking legal action against you. In some rare cases, you will find that they are unwilling to provide you with further treatment. Under such a situation, you will find yourself left with the following options. You can use your judiciousness to bring the medical facilitator on to the table of negotiation.
Try and Negotiate
Do bear in mind that medical bills are negotiable. Moreover, you have the facts and figures to justify your monetary hardship. You need to prove the point that owing to the precariousness of your monetary situation; you are unable to clear out the dues. So, what you need is a flexible term of payment. Under the given situation, where you need flexible payment terms, there are two basic things to do. First, you can take the support of your health insurance provider so that it intermediates and ends up lowering the total fee.
Make Monthly Payment
Secondly, you can thrash out an arrangement; wherein you will be required to clear out your dues, on a monthly basis. The situation will be similar to taking a debt of the unsure kind, on your credit card. Since you will have monthly bills to clear, the hospital facility may charge you with a predetermined fee that you will have to pay, as the interest. These are two of the options that you can use. You can visit here to find out more details about the alternatives that can provide you relief from the trap of medical debt.