How can I negotiate and pay off old medical bills in collections?
I have a lot of medical debt from as far back as 2007 with collection agencys. Is there any way to get that paid down or negotiated? Medical bills are the only bad things on my credit reports and they are bringing my score way down.
How can I negotiate and pay to settle old medical bills in collections with the least amount of money?
—Teresa
You can certainly approach settling these accounts as a means to resolve them. The affects to your credit by these collection accounts being there now, or in the future after you resolve them, will vary.
I have some questions for you before I can suggest a next best step:
What state are you in?
When was the last payment made toward any one of these accounts?
How many accounts are there and what are the amounts?
How prepared are you with money needed to fund negotiated payments and terms?
What goals do you have in the next couple years that would require your seeking out a loan product (home, car, student loan)?
Did you have medical insurance?
If you can respond in the comments below I will be better prepared to make some suggestions.
Anyone with questions or concerns about settling or paying medical debt in collections is welcome to post in the comments below for feedback.
About Michael Bovee
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Michael started CRN in 2004 with a mission to provide people in need with detailed debt and credit help and education. Michael has participated as an expert panelist in federal consumer protection rule making, collaborated on state law changes governing debt consolidation, has worked as an expert witness in court matters related to the debt relief industry, and is a regular contributor to several personal finance websites.
