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Does Medical Debt Go Away? A How-to Guide for Ridding Yourself of Debt

Did you know that seventy-nine million people have problems with medical bills?

It can be difficult to worry about medical bills when you’ve been sick or injured. It’s also stressful to consider the impact that your overdue bills might have on your credit rating. Fortunately, there are ways to get rid of medical debt.

If you’ve been asking yourself “does medical debt go away,” there are several important things you should know. If you want to find out how to get rid of your debts, then read on and we’ll tell you what you need to know.

Get Help as Soon as You Can

You’re not alone when you have medical debt. And since there are millions of other people who struggle with the same problem, there is an established path for getting rid of this burden.

The first thing you should do is call the hospital to find out if you qualify for the facility’s financial assistance policy. If you do, you might be able to cut your debt in half. It’s also possible that they will offer you medical debt forgiveness by eliminating all of your debt.

Even though they face many challenges at the state and national levels, you should also know that lawmakers are working for you. You can view here for more.

Ask Your Hospital for a Lower Price

It’s common for hospitals to charge a “chargemaster” rate. This is usually a much higher price than an insurance provider will need to pay.

You should therefore let your hospital know that you are unable to pay the chargemaster rate. Ask what they charge insurance companies and find out if it’s possible to pay this lower amount.

Don’t Give Up

Every hospital works differently. Some are easier to negotiate with than others. This is why you shouldn’t be surprised if it takes you months or even years to agree on a price that you’re able to afford.

Don’t Use Your Credit Card to Pay for Medical Debt

If you pay your debts on a credit card, you’ll be shifting your burden to a higher-cost kind of debt. By doing this you miss out on the protections offered when you have medical debt.

You’ll also miss out on the opportunity to negotiate a lower rate with your hospital. After they’ve been paid the hospital will have no incentive to help you set up a payment plan or lower your bill.

Get Medical Debt Collection Agencies to Stop Calling

If you’re sick of being called by collection agencies, send them a no-contact letter. You can also tell them over the phone that you want them to stop bothering you.

Does Medical Debt Go Away: Take Steps to Be Debt-Free

If you’ve been asking the question “does medical debt go away?”, it’s important to know that there are ways to get rid of your debt. Remember to act as quickly as you can. If you haven’t already done so, make sure to call your hospital to negotiate a lower rate.

Are you interested in finding out more about how to get rid of debt? If so, then consider visiting the Trending section of our website.

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