Hospitals often will work on settlement for past-due bills if payer makes effort

Apr 2, 2016, 11:00 AM
(AP Photo)...
(AP Photo)
(AP Photo)

Dear Dave,

Will hospitals take a settlement on past-due medical bills, or is this a rare occurrence?

— Kristin

Dear Kristin,

It’s not all that rare for hospitals to accept a settlement on past-due bills.

Most businesses will accept a settlement on past due accounts, and many hospitals will accept a deeply discounted settlement because they’ve usually gotten a big chunk of their money up front from the insurance company.

Let’s say you had a $1,000 hospital bill you honestly haven’t been able to pay for several months, or even two or three years.

If you go to them and offer $300 or $400 as a settlement, there’s a good chance you’ll have a deal. Just make sure you get the agreement in writing before you hand anyone a check.

Remember, you have a moral and legal obligation to pay your debts in full if at all possible.

But if you truly can’t afford to pay, an agreed upon settlement between two parties can be an honorable and acceptable compromise.

— Dave

Dave Ramsey

(Unsplash Photo)...
Dave Ramsey

Dave Ramsey says: Be honest in uncomfortable situation explaining better job offer

When handed a great opportunity shortly after starting a job elsewhere, walk into your boss’s office and lay out the whole situation truthfully.
2 days ago
(Pexels Photo)...
George Kamel

How to manage finances with inflation through the rest of this year

Whether we want to admit it or not, inflation is here, and there’s plenty of ways you can beat it through the end of the year.
4 days ago
(Flickr Photo/TaxRabate.org.uk)...
Dave Ramsey

Dave Ramsey says: Pay off credit debt, then keep rolling to straighten finances

When the rule of paying off debts from smallest to largest doesn’t apply, attack the one with the larger interest rate first.
9 days ago
(Unsplash Photo)...
Kristina Ellis

Here are 3 easy ways high school seniors can increase their productivity

If you're a high school senior, it’s so important to get your priorities set and get your life organized as you start this academic year.
11 days ago
(Pexels Photo)...
Dave Ramsey

Dave Ramsey says: Debt-free couple should sign up for level term life insurance

A debt-free young couple should find good 15- or 20-year, level term life insurance policies, with coverage amounts of 10 to 12 times their incomes.
16 days ago
(Pexels Photo)...
Dave Ramsey

Here are ways to boost your holiday budget, starting now

While you might not be ready to hang up the mistletoe, it's never too early to get a head start on saving money for the holidays.
18 days ago

Sponsored Articles

...
SCHWARTZ LASER EYE CENTER

Key dates for Arizona sports fans to look forward to this fall

Fall brings new beginnings in different ways for Arizona’s professional sports teams like the Cardinals and Coyotes.
...
Day & Night Air Conditioning, Heating and Plumbing

Ways to prevent clogged drains and what to do if you’re too late

While there are a variety of ways to prevent clogged drains, it's equally as important to know what to do when you're already too late.
...
Day & Night Air Conditioning, Heating and Plumbing

Most plumbing problems can be fixed with regular maintenance

Instead of waiting for a problem to happen, experts suggest getting a head start on your plumbing maintenance.
Hospitals often will work on settlement for past-due bills if payer makes effort