topic Medical debt in Debt management

Medical debt

mindenj68 — Mon, 27 Aug 2018 22:59:14 GMT

All of my debt is from medical bills. Any tips how to lower my debt other than filing for bankruptcy? I am on a fixed income due to disability and don’t have a lot extra.

Re: Medical debt

Carl — Tue, 28 Aug 2018 00:49:28 GMT

Generally when it comes to medical debt, it's easier and more doable to lower the payments, than it is to lower the debt. If in the process of doing that you can also lower the amount owed, then that's just a bennie.

In my experience (which is limited on this front) if you talk with those medical professionals or medical institutions face to face if possible and explain your financial situation with documentation to back it up, they will be more than willing to work with you. Especially if they can see that bankruptcy is a real possibility. Medical professionals for the most part are always the first to lose when a client files bankruptcy, and they know that. So if they can see their only choices are lower the payment (and possibly lower the debt owed to) or risk getting nothing if you file bankruptcy, they'll work with you on terms that both parties can agree to.

Bankruptcy needs to be an absolute last resort, because there are no winners when someone does that. For you if you have your own home with mortgage or not, chances are high that's going to be the first thing that goes right after the 2nd car in the driveway.

Re: Medical debt

CB — Tue, 28 Aug 2018 14:07:51 GMT

A lot of hospitals will forgive debt if you go talk with their finacial assistance people. It should apply to future needs as well but get that clarified. There is also help from medication manufacturers if prescriptions are too costly. That can be found on their websites. Local librarues have computers with internet access if you don't have that at home. Good luck!

Re: Medical debt

Lachinita12 — Mon, 04 Feb 2019 22:17:24 GMT

I had a car accident an at that time i had insurance an the hospital is still charging me

Re: Medical debt

slistack — Thu, 30 Jan 2020 17:19:01 GMT

My adult son, who spent a month in intensive care for vaping disease, was forgiven his debt by the hospital after showing his financial condition. Is this a taxable event. Will he get a 1099C?