subject: Medical Debt Settlement - How to Legally Eliminate Half of Your Medical Debt [print this page] Medical Debt Settlement - How to Legally Eliminate Half of Your Medical Debt
It is a known fact that there come situations in life when one has to spend money without caring whether he has enough funds in his account or not. Every person in his lifetime has to visit a doctor or has to go through some kind of major or minor surgery in his life time. Due to this fact, every one knows that these things always prove to be very much expensive and they leave a person in a distressful condition where he has to use his credit cards for the payment of these bills. Only one trip to any of these circumstances can cost huge amount of bills to be paid. After the recovery of health, the new issue which is faced is the repaying money which people owed during their illness. But there is no need to worry any more even if your debt is $10,000 because you can get rid of it by settling it.
Debt settlement is a term used for the negotiations between the debtor and the lender. The Purpose of these negotiations is to lower the balance of the creditors. It is highly recommended that instead of negotiating with the creditors on your own, you must hire a professional debt settlement company for your assistance. They will negotiate on your behalf with your lender. These companies have financial gurus who know all the tactics of convincing the lenders for their own terms. When you will be settling a medical debt, there will be no interest rate charged on it but there may be late payment charges. During medical debt settlement, these late payment charges will be reduced.
There are a number of reasons due to which a person may select the settlement method. It is a better alternative to bankruptcy. As in other case, you will become ineligible for any kind of financial assistance for the next seven or ten years. One of another reason can be that it is an appropriate way to avoid harassment of the lenders. Doctors will not harass you but they will hand over your case to some collection agency and that agency will tease you for the collection of the money.
Debt settlement is a viable option to filing bankruptcy and is becoming increasingly popular amongst Americans with over $10k in unsecured debt. Creditors are ready to negotiate. You can literally eliminate 50% of your unsecured debt with a settlement. Check out the following link to locate legitimate debt help in your state.
