When the collections calls are rolling in, the first thing you need to learn is how to negotiate medical bills in collections. Just because they are asking you to pay a certain amount doesn’t mean that you must hand over the full payment to stop the collections calls.
Medical Bill Negotiation: Before and After Collections
The truth is that while debt negotiation is preferred before an account is sent to collections, you still have options if a debt collector takes over the bills. In fact, certain debt options are only available after collections, such as debt settlement.
So, if you want to learn how to negotiate medical bills in collections, then it might be the perfect timing to find a win-win solution to get you back on track with your finances again.
Before Settling Medical Debt
Preparation is key before talking to the collections company about debt settlement. If you are going to negotiate the terms of your payment, then you need to have full information about the amount owed and your rights as a consumer. Here are a few tips to help:
- Review the Bills: Make sure that you know how much is owed. Also, double-check the statements for accuracy. Sometimes, bills come through for procedures that weren’t completed.
- Negotiations: When possible, work with the healthcare provider to negotiate the bill before it is sent to collections. For example, you might be able to pay a lower amount and then pay it off all at once.
- Payment Plans: You don’t always have to pay the balance in full. Many debt collectors are willing to work out a payment plan. Or, you might find more favorable terms through a medical credit card or personal loan.
Medical Debt Options
Knowing how to negotiate medical bills in collections can be one of the most powerful ways to eliminate your debt stress as soon as possible. Not only do you need to negotiate the amount owed, but also negotiate payment terms – such as the monthly payments and the interest rates.
You might be surprised to see how much room there is for negotiation with a collections company. They are usually interested in working with consumers to avoid bankruptcy. As you are working through these negotiations, your credit score might be impacted. But rest assured knowing that you can overcome these credit score problems when the medical bills are paid in full.
You need to know your rights as a consumer, as well as the laws that protect your family. If you can’t pay the bills that are owed after an accident or illness, then it is time to learn how to negotiate medical bills in collections.