Debt Relief Charity Erases 20 Million Medical Bills
Medical debt has been stressing people out since much simpler times. Even in 2018, when we weren’t always on the brink of the next outbreak of measles or mpox, and when no one had ever heard of COVID-19, people dreading opening their mailboxes or looking at the notifications on their phones, because it was a constant flood of demands for repayment of medical bills. That was before the social supports that prevent our health and finances were in freefall, when you could be reasonably certain that Medicare and Medicaid would always be around. Medical debt has been a major cause of bankruptcy filings for years. The only difference is that, today, not only is medical debt disastrous, but so is everything else. It is difficult to avoid incurring medical debt; illnesses and injuries happen for reasons beyond your control, and it is certainly not by your choice that healthcare is prohibitively expensive. Debt relief charities exist that make medical debt disappear as if by magic, but more often, you must be the one to make the first move to erase your medical debt. For help reducing your medical debt when it is more than you can possibly pay, contact a Philadelphia debt relief lawyer.
How Medical Debt Relief Charities Like Undue Medical Debt Work Their Magic
According to a recent report on the NPR website, a charity called Undue Medical Debt just bought $30 billion of medical debt and forgave it. This means that 20 million people each got at least one medical bill forgiven; the average balance of the medical bills involved was $1,100, about the cost of an emergency room visit for a patient with employer-provided health insurance. Of course, it did not pay $20 million to buy this debt; it was more efficient than that. Debt relief charities like Undue Medical Debt and RIP Medical Debt buy medical debts for pennies on the dollar. This is what collection agencies do, too, but whereas collection agencies try to get you to pay as much as they can, knowing that they will still make a profit if you pay only a fraction of the face value of the debt, debt relief charities simply forgive the debt and make it disappear. Every dollar that you donate to a debt relief charity could forgive the charges for a doctor’s office visit copay that the patient cannot afford.
Making the Maximum Amount of Medical Debt Disappear With a Modest Amount of Money
Medical creditors know that no one can afford the amounts they are asking patients to pay. They give discounts to insurance companies in the form of write-offs. It is worthwhile to negotiate with medical creditors to settle your debt for less than the face value amount, as long as you get the settlement agreement in writing.
Contact CONSUMERLAWPA.com About Your Credit Card Debt Relief Options
A Philadelphia consumer law attorney can help you get out of medical debt even in a dismal economy. Contact CONSUMERLAWPA.com to set up a free, confidential consultation.
Source:
npr.org/transcripts/nx-s1-5349500#:~:text=NOAM%20LEVEY%3A%20Undue%20Medical%20Debt,old%20debts%20and%20relieve%20them.
