Negotiating Your Medical Bills

There’s no doubt about it- receiving medical care in this country is expensive! In fact, medical expenses are the main reason that people declare bankruptcy. If you have found yourself struggling under a mound of medical-related debt, don’t give up just yet. You can try negotiating down your debt.

Prove You Can’t Afford It

When a hospital or other healthcare provider is asking you for money that you don’t realistically have, they’re fighting a losing battle, plain and simple. If your bills are truly outrageous- meaning there is absolutely no possible way you could pay them based on your income, prove it!  

If you can show proof, such as pay stubs or income tax filings, that you just plain don’t have the money that is being asked for, your medical provider(s) may be willing to either reduce the total amount of your debt, or, at the very least, reduce your monthly payments to something more manageable.

Handle Problems Right Away

Not everyone falls into the above category of not being able to pay, at least not at first. Some people go along for a while, managing to pay their medical bills. Then, something happens. They get laid off or they encounter a new expense. Whatever the case may be, when people encounter a circumstance in life that keeps them from paying their medical bills, they should talk to their creditors as soon as the problem rears its ugly head.

When the creditor knows what’s going on and is kept “in the loop,” it’s a lot more likely to work with you. The truth is that creditors don’t actually want to send your debt off to collections; they’d rather have your money in hand, even if it takes longer than planned. Be totally honest though. Don’t say you’ll be able to pay “next time” if that’s not true. The more honest you are, the more manageable of a deal you’re likely to get.

Get Professional Help

If you can’t seem to work out a realistic payment plan with your medical creditors, it’s probably time to talk to a professional financial advisor or debt counselor. These individuals, in some cases, may even be able to negotiate on your behalf. They can also advise you on when filing for bankruptcy is in your best interest and on other debt management options. Remember not to give up hope. No matter how bad your debt is, there is a way out.