Dealing With Medical Debts

The economy may be improving statistically, but for many receiving medical care, that improvement is illusory. One out of three people with medical bills in the United States are unable to pay. For those who are unable to pay, insurance doesn’t help much. Outstanding medical bills can also mean real trouble when you seek treatment in the future. In the Chicago area, many turn to bankruptcy and seek the assistance of an experienced Chicago bankruptcy lawyer. You can, however, sometimes negotiate a payment plan on your own if you are honest with your healthcare provider about your financial situation.

Even before you negotiate, be aware that hospitals make plenty of billing mistakes. If you think that you’ve been over-billed, call your insurance company. Sometimes an insurance company will receive an inaccurate bill, and that prevents them from making payments. Also, if you’re facing any financial troubles, you may not want to pay medical debts with a credit card. High-interest cards can lead to bigger financial problems and even more debt. Some healthcare providers push their own borrowing programs that can lead to even deeper financial trouble. If your healthcare provider suggests such a deal, investigate it fully and carefully before accepting.

The truth is that negotiating your medical debts by yourself is difficult, and if you do reach an agreement, it may be unsatisfactory in the long run. Even the affluent can quickly be overwhelmed by medical debts, and the more you owe, the fewer options you have. An experienced debt negotiation lawyer can usually get a better agreement for you, but a Chapter 7 bankruptcy offers the genuine financial relief you need. In the Chicago area, if you’re being overwhelmed by medical debts – or any other kind of debt – get the help you really need and consult right away with an experienced Chicago bankruptcy lawyer.