It’s not only your body that needs to heal after you’ve been confined in the hospital or after a major surgical operation. A burden awaits you while you’re still in the recovery period because you will also need to heal your bleeding financials and pay off your medical bills after the medical procedures.
In fact, an unpaid medical bill is the most common type of collection account that affects two out of five South Africans. Many people struggle to pay off their medical debt that it has become the main cause of personal bankruptcy in the United States.
Furthermore, unpaid medical bills carry negative implications on your credit score. Even though you’re still recovering from your illness, you will be obliged to work harder or get a loan with a high-interest rate, just to pay these medical bills.
Moreover, unpaid medical bills can also lead to a lawsuit. The hospital or debt collector may obtain a judgment from the court. If the judgment does not favor you, collections may be enforced through wage garnishment (Emoluments attachment order) or by uplifting your assets.
Often, unpaid medical bills are miscalculated by the medical institution and collection agencies. Given this fact, everyone should be vigilant and keep track of the services and items that they’ve received in the hospital; including the corresponding cost so that they can compare the computation into the imposed bill sent by the medical institution.
It’s not degrading to ask for payment plan options or seek help through debt relief programs to pay off your medical expenses. Prevent an overdue account or else you have to deal with debt collection agencies rather than being in your original creditor.
Yes, the negative repercussions of an unpaid medical bill can be prevented. Do not be overwhelmed by a pile of medical bills. Here are some suggestions on how to pay them off the smart way:
Read all Medical Bill Details
If you have the capability to pay it, then do it. You must not ignore it, because if you take these medical bills for granted, it will lead in a more serious matter. Respond to every notice and letter regarding your bill or seek the guidance of experts.
Check Your Insurance Policy
Check the terms of your medical insurance policy and know the technicalities that will adversely affect your medical coverage. You may also follow-up with your insurance company on whether or not they are willing to pay the bills based on the signed agreement you have with them. Don’t assume anything. It’s better to double-check everything than regret something later if something goes wrong.
Set-up a Fund Raising Campaign
If you don’t have the capability to earn money to pay off the bill due to your illness, you can organize a fundraising drive in your community. Gather your family and friends for these fundraisers like walks, weekend braai’s, mini concerts, etc.
Read all Medical Bill Details
Often, medical bills have errors and after you have received them, be sure to study it carefully. If you’ve noticed any discrepancies, you may request for an itemized billing statement from the medical institution so that you can easily see the expenses.
Consider Debt Relief Options
Medical bills, just like any other unsecured personal debt, can be paid off by debt relief programs. One debt relief option that has been helpful to recovering patients is debt counselling.
You will wonder why we regard the debt counselling program as the ideal option for unpaid medical bills. It’s because upon enrolling on such a program, the recovering patient will have one monthly re-payment scheme for all of their debt combined, making it more convenient for them to pay off debt such as a medical bill. Plus, with the guidance of experts, some clients have reported that they’ve even reduced their total monthly debt repayment amount by paying an average of 40 to 60 percent.
Therefore OUDS is willing to assist consumers in this predicament with a free service of a financial assessment, assist the consumer to organise an affordable, realistic and structured monthly budget and debt management plan thereby providing consumers with a guideline for eliminating and remaining out of debt.
Remember above all else that you are not alone out there. Contact OUDS directly for more information on our effective Phalanx services.
Oyisa United Debt Specialists HAS A SOLUTION for YOU!!!