50 k in debt from unpaid medical bills all before i turn 24 HELP?

Question

how do i fix this i have renal failure , and would go to the ER
for treatment of health problems prior to having insurance and just wouldnt pay the bill . now i am on a fixed income because of my kidneys
and i want to clear this debt ,
i know have insurance . and the whole debt is just in medical bills
i have never had a credit card , loan or even anyother
type of unpaid bill but my credit is wrecked
so how do i fix it

Answer 1

If you are on fixed income and have very few assets, your best bet would be to file chapter 7. They cannot touch your Social Security disability income.

Answer 2

You should contact the creditor. Tell them you are on a fixed income. Be truthful. Basically let them know that your ability to pay is extremely limited. Try and make a deal you can live with.

Now let me tell you a dirty little secret. Since you had no insurance, they billed you a list rate. Since you have insurance now, look at your claims statements. Notice how about 60% to 80% of the charge is disallowed per their agreement with the insurance company? Say they bill $100 for a test. The insurance claim may state that by contract, they are only allowed to bill $25 for it, and then you have a co-pay that probably completes payment.

Your position should be that if they'll settle for 20% to 40% on the dollar with insurance companies, they can settle for that with you too. Their only other choice is to be stiffed. You have a position of some strength and logic here. Use it to your advantage.

My last tip is to make sure you get any deal in writing before sending in any payments, and that once complete, your account is to be reported as "Paid in full."

Good luck.

Answer 3

Call the creditor, see if they will make a deal on lowering the debt and arranging payment options.

They will likely lower the debt, maybe even cut it in half, but payments might be something like $500 per month or more.

Answer 4

The answer could not be clearer; file bankruptcy.