subject: Medical Debt Settlement Relief - How To Use New Laws To Settle Bad Medical Debt [print this page] Medical Debt Settlement Relief - How To Use New Laws To Settle Bad Medical Debt
Because of the recession, people are suffering from many problems regarding debt. One of these problems is the medical debt one. Many people are having this problem; even through they have medical insurance. As the medical bills are getting bigger, they try to fill for bankruptcy. But they do not understand what can bankruptcy lead to. Instead, they should be hiring a debt settlement company who can reduce their debts a lot. For this purpose, the federal government has introduced some new laws regarding debt settlement. They are meant to help the debtor win the struggle against a huge number of debts.
The new laws that were introduced by the FTC state that the settlement companies cannot charge any fees upfront. Instead they will only charge after the job is done. In the past, many scam companies existed only to collect the fees and the persons in need were not helped. That is not possible anymore today. Now, only real debt settlement companies exist which means the operation is a lot safer now. By hiring a professional debt settlement company one can expect to have his debts reduced with over 60%. That is a lot considering he has to pay only a small fee. You don't have to negotiate anything yourself as the company you hired will do all by itself and will convince the creditor that you are facing bankruptcy and cannot pay your debts. If the settlement succeeds, you will have your debts reduced in no time. By practicing such options, one can eliminate the dues very fast and legal. By using these options, you can get rid of your medical problems and make your financial future safe as the credit score remains maintained.
Debt settlement is the best option for filling bankruptcy and is very popular amongst people who are indebted. If you have a large sum of debt, over $10k in unsecured debt, then it is good to use debt settlement. Search the internet or a debt relief network for a good and respectable debt negotiation company so you can begin reducing and be debt free.
Debt settlement is a legitimate alternative to filing bankruptcy. Consumers can expect to eliminate around 50% of their unsecured debt with the help of a legitimate settlement program. With the new FTC laws recently passed in July 2010, debt settlement is a much less risky option. If they don't settle your balance you don't have to pay a dime.
Check out the following link for free help from a certified debt relief specialist:
