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Romm
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Subject: Hospital Bills
 
Posted on Wed Sep 24, 2008 8:25 pm  

Does any one know how to negotiate this kind of debt? Or does any one recommend and honest agency that could negitiate for me?
goodnatured



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450 Magic Points

 
Posted on Sat Sep 27, 2008 4:00 am  

Are they into collection status???? If they are you can probably get it knocked done to about 60 to 70 percent.
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Posted on Sat Sep 27, 2008 10:45 pm  

they are in colection status already, there are different amounts, from different items. Like for the ambulance, for different doctors, from sergury, etc..
erb1953



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Posted on Sat Sep 27, 2008 11:02 pm  

can you give some more details on what is going on with your bills?
goodnatured



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Posted on Sun Sep 28, 2008 1:29 am  

Can you give more detail, we will try to help you if we can but need more information.
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Mary

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Posted on Mon Sep 29, 2008 12:07 pm  

Hi Romm
If the debt has already been listed in your credit report, you should first send a debt validation letter by certified mail to the hospital or the collection agency whose name appears in your report against the debt. The creditor need to validate the debt within 30 day of receipt of your letter. Now once they validate the debt, you should contact them for a discount on the actual debt amount and ask for a repayment plan to pay back the debt.
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goodnatured



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450 Magic Points

 
Posted on Mon Sep 29, 2008 2:25 pm  

Great idea mary, they may actually go for a payment plan or a good settlement offer depending on your situation and the age of the debt. Print off your report and see what is there now and approach them before they contact you and they will realize that you want to take care of it and may work with you more willingly.
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Justin

Justin

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Posted on Tue Sep 30, 2008 7:26 am  

Mostly the collection agency or the creditors agree to settle for 60% to 80% of the actual debt. Although unpaid medical bills do not adversely affect your credit score, because as per FICO algorithm the most important factor in determining your credit score is the credit utilization ratio, I would always prefer to get a pay for deletion agreement before paying off the medical bills.
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goodnatured



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Posted on Wed Oct 08, 2008 3:06 am  

that is the industry standard, so try and negotiatie the 60 to 70 percent of the debt, they will probably accept it.
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Goodnatured,
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fireyone



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Posted on Wed Oct 08, 2008 8:53 pm  

Sad thing is even 60% of the debt is usually still way more than the original debt due at the time of default. Another reason I get so ticked off that they will sell a debt to a jun kie for way less than the debt. Yet they won't try to work with you so it doesn't hit your cr.
Romm
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Posted on Fri Oct 10, 2008 5:43 pm  

You guys thank you so very much for all of your advice, there are several little charges in my credit report ranging from 47 dollars from something really silly up to 15,000 for actual surgery. About the comment from Justin and FICO score, I would think this is affecting my score cause my credit is compleately shot, there is only one other item from a scured credit card from bank of america, original debt was 375 dollars, now it has ballooned up to 1500 dollars, it went upaid cause or my illness, so....I am compleately s...
fireyone



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Posted on Sat Oct 11, 2008 7:31 pm  

Hope you can get evrything straightened out.
goodnatured



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Posted on Mon Oct 13, 2008 1:01 am  

romm, you are very welcome, glad that5 you found some help here, how are things going now?

May I take this opportunity to welcome you to register on the site and stay with us for awhile.
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Goodnatured,
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fireyone



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Posted on Mon Oct 13, 2008 1:04 am  

Yes please let us know how things are going and if you have any further questions...that is what we are here for. People helping people.
goodnatured



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450 Magic Points

 
Posted on Mon Oct 13, 2008 1:34 am  

great point there fireyone, there are people out there helping each other every day.
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Goodnatured,
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