5 Tips for Dealing with Overdue Medical Bills

Deborah B By Deborah B, 4th May 2011 | Follow this author | RSS Feed | Short URL http://nut.bz/1k76vm0l/
Posted in Wikinut>Money>Debt

When you least expect it, you might be hospitalized because of a broken bone, or something severe like a heart attack. Unfortunately, the bill will most likely be very high, especially for people who do not have health insurance.

For most, it is very difficult to pay thousands in medical bills before they become overdue. Unfortunately, overdue medical bills can cause tons of damage to your credit score, which can take years to repair.

Get Organized

Sometimes, people don’t pay medical bills before or when they are due because they simply forget. Forgetting about medical bills can cause you to suffer unnecessary debt and bad credit that is difficult to repair.

Even if your bills are already overdue, you should create a list of each creditor you owe. The sooner you pay a medical bill, the less damage. By creating a list of overdue medical bills, you will be able to ensure one medical bill doesn’t slip from your mind before it does more damage to your credit score.

What's Your Budget?

To pay off your overdue medical bills, you need to figure out how much you can pay each month. Write down how much money you are making each month. Include all earnings, no matter how small. Record each monthly bill, from the rent to your telephone bill.

Cut Down on Expenses

If you have overdue medical bills, you might have to sacrifice certain indulgences in order to pay them. To pay your bills off as fast as possible, it’s best to cancel your Netflix and gym membership. Although you may think that getting rid of a membership that costs $10 or less won’t do anything to help, the money does add up, especially if you have multiple memberships.

Negotiate Payment Plans

Typically, healthcare providers understand that some people are unable to pay their medical bills within a certain period. Many healthcare providers have payment plans for people who don’t have sufficient health insurance coverage.

Call the billing the department and ask if they are willing to accept small monthly payments over many months. They might be able to arrange for you to make smaller monthly payments. Most providers don’t care, just as long as they get their money.

Sounds to complicated? Does the process have you intrigued? Visit the Guide to Medical Billing to get a better idea of how the medical billing process works. You may understand it better and maybe you'll find your own new career path!

Tags

Guide To Medical Billing, Medical Billing

Meet the author

author avatar Deborah B
Deborah is a full-time professional writer with a passion for health, wellness, fitness, nutrition, finance, and more. She enjoys researching and sharing her knowledge with others.

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