How to Resolve Medical Bills in Collection

Thanks for your question. You've asked two questions: 1. How to find which medical bills are in collections, and 2. How to resolve those bills for the lowest cost.

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The easiest way to determine which collection agencies are handling your medical bills is to obtain a copy of your credit report from each of the three major credit bureaus (Equifax, Experian, and TransUnion). The collection agencies handling your accounts should be reporting the accounts to at least one of the three credit bureaus. It is important that obtain all three credit reports, as not all collectors will report to all three agencies; by obtaining all three reports, you increase the likelihood of locating your accounts. You are entitled to obtain a free copy of your credit report from each of the three major credit bureaus once per year, which you can request by visiting AnnualCreditReport.com.

The credit reports should contain information about each of your outstanding medical bills, including the name and address of the collection agencies that are handling your accounts.

While most delinquent accounts are reported to at least one of the major credit bureaus, you may not be able to locate all of your accounts on your credit report, especially if the bill is from a smaller creditor, such as a community hospital. If you cannot locate an account using the information contained in your credit report, you should call the medical provider in question to find out if they have assigned your account to a collection agency, and if so, what agency is currently handling the account.

There are several options available to assist consumers struggling with unsecured debts such as credit cards and 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 Debt Help Information page.

Since you are looking for the least expensive method to resolve your debts, I recommend that you consider a debt settlement program. Rather than making monthly payments to your creditors, these programs negotiate lump sum settlements with your creditors, frequently reducing your debts by 50% to 60% of your principal balances. These programs usually take only 2-3 years to complete, so this is a good option for many people to rid themselves of debt in a relatively speedy manner. In many cases they can also reduce your monthly payment toward your debt.

There is one major drawback to debt settlement programs, though -- they will significantly damage your credit while in the program and for at least a year or two afterwards. However, if you are currently unable to afford to pay your creditors, the hit to your credit may be worth the benefit of ridding yourself of credit card debt.

I wish you the best of luck in resolving your medical bills.

I hope that the information I have provided helps you Find. Learn. Save.

Best,

Bill

Bills.com