I closed the answer poll by mistake,but my friend got shot in the leg outside in a drive by, they were shooting at someone else and he was innocent bystander getting out his car,but he lives with his mom and he has no insurance, so after the surgury they charged him over 130,000 dollars in bills...what can he do to fix his credit and get rid of these bill which is dam near impossible for someone to pay off
2007-03-10 13:01:22 · 8 answers · asked by peelowg2k 2 in Business & Finance ➔ Credit
I am not a fan of telling someone to file bankruptcy and I very rarely say that someone should.
With that said.......
Bankruptcy is there for a reason, his debt was through no fault of his own.
Yes bankruptcy will leave a mark on his credit, but so will a $130,000 unpaid debt. (just my opinion, but a $130k debt will probably be harder to recover from then a bankruptcy)
He would probably be better off if he did file.
2007-03-10 13:20:22 · answer #1 · answered by echo 7 · 0⤊ 0⤋
Medical bill are unlike any other debt in that they are very rarely collected in full and often times are written off by the hospital rather than turned over to a collection agency. If the person racking up the bills is unable to pay the debt (much like your friend's situation) the hospital is not held liable and the federal govt. will eventually nullify the debt. While a negative connotation on your credit report is inevitable (the same as not a paying any sort of bill), it is not nearly as bad as not paying a credit card bill or defaulting on a mortgage or vehicle payment. Think about it, everyday thousands of americans accumulate medical bills that they are unable and unwilling to pay (the average person simply cannot afford medical debts, and a vast majority of people have little to no insurance help). Hospitals rarely refuse medical service to anyone, regardless of their financial situation. If this person applies for some line of credit in the near future, a lender will see this mark on his credit report and it will increase interest rates, etc. (as will any other outstanding debt, but not to the same degree as a credit card payment that someone just refuses to pay). DO NOT, I repeat, DO NOT file for bankruptcy. This freezes your credit for at least 7-10 years, making it impossible to get any sort of loan or make any nominal purchase out of the question. If credit problems do become too great, an effective (and extremely economical) solution is to work in conjuction with a debt settlement agency. They will work to lower the principal amount owed and one can usaully settle medical bills for between 8-13 cents on the dollar (8-13% of the amount origianally owed). This will help eliminate the debt for less than what is owed and can usually help to erase negative debts on credit reports after the debts have been settled.
2007-03-10 20:36:55 · answer #2 · answered by Zeppfan35 3 · 0⤊ 2⤋
I had a friend that was hit by a car and had major medical bills. The kid that hit her had no insurance.
The hospital wrote her entire medical bill off.
Your friend needs to contact the hospital and find out if they can do anything about the bill. Hospitals cover indigents all the time. Actually, we that taxpayers cover it, but since they are not allowed to refuse medical care, the state and federal government subsidizes medical care for people that can't pay.
He needs to talk to the hospital billing department.
2007-03-10 13:12:57 · answer #3 · answered by Faye H 6 · 0⤊ 0⤋
Isn't it just galling to know that if he were an illegal Mexican immigrant all his medical bills would have been paid for him? This is why your friend got the bill so the illegals can get free medical.
This country is screwed up bigtime and Sen Ted Kennedy is a big part of the problem, along with all the Massachusetts idiots who vote for him.
2007-03-10 13:06:40 · answer #4 · answered by Anonymous · 4⤊ 1⤋
Contact the hospital and be honest you can't pay the bill. They had to treat you and they may not tell you but hospitals have a fund that will take care of bills that are not paid by persons that can't. Just tell them
2007-03-10 13:08:24 · answer #5 · answered by Anonymous · 0⤊ 1⤋
I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.
2007-03-10 15:50:00 · answer #6 · answered by Anonymous · 0⤊ 0⤋
A lot of states have a program called victim assistance. Try goin got the city or state for help. Most states has this service.
2007-03-10 15:28:33 · answer #7 · answered by prettybrowneyes 2 · 0⤊ 0⤋
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2016-08-23 20:51:38 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Win the lottery, become a doctor, lawyer or a business executive or bankruptcy.
2007-03-10 13:04:55 · answer #9 · answered by Gman 4 · 1⤊ 1⤋
Dont think twice, just file bankruptcy and get back with your life..
2007-03-10 15:04:08 · answer #10 · answered by Man of La Mancha 2 · 1⤊ 1⤋