Information on medical debt In collections and credit rating - The Bills.com Blog

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Information on medical debt In collections and credit rating

Question: Do unpaid medical bills that have been turned over to collections go against your credit?

Answer: Yes, if the debt is already with a collection agency, they invariably, will always report the status of the debt to the credit bureaus. Initially, the doctor or the hospital will try to collect on the debt, and if they are not successful, they will most likely turn over the collection efforts toan external collection agency. The recourses that they have are same as any other unsecured debt.

If you are having a problem with the debt, then you should try to work out a payment arrangement with them. You will have to explain your financial situation to them and state the reason as to why you are unable to make the

payments right now. In most cases, they will agree to some sort of a payment arrangement.

There are still other options available to assist consumers struggling with medical bills. The most common are debt consolidation, consumer credit counseling, and debt settlement. Bills.com offers a wealth of information about various

debt relief options, available at http://www.bills.com/debt-help/.

I wish you the best of luck in resolving your medical bills, and hope that the information I have provided helps you Find. Learn. Save.

Best,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

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Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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