Are past due notices from the hospital or doctor’s office piling up on your dining room table?
It may be tempting to swipe the whole stack into the nearest trash can, but out-of-sight, out-of-mind isn’t a good strategy when it comes to medical bills – or any debt – that you can’t afford to pay.
To avoid having your account sent to collections, work with the hospital or doctor’s office billing department to come up with a payment plan you can afford and then stick to it.
Relentless notices about past-due medical bills are bad enough, but having a collection agency on your back is even worse.
Multiple late payment accounts on your credit report have an even greater impact on your credit score.
All three major credit reporting agencies must wait 180 days after receiving information about unpaid medical bills before putting the past-due debt on your credit report.
Do your best to work out a payment plan, settlement or other arrangement with the hospital or health care provider as soon as you know you’re having trouble making payments.