subject: Medical Debt Settlement Programs - A Legal Way To Eliminate Medical Debt [print this page] Medical Debt Settlement Programs - A Legal Way To Eliminate Medical Debt
It is a wise decision to choose debt settlement over bankruptcy. Recently, many people are suffering from the burden of medical debts. They are suffering from this heavy burden because many people have been badly hit by this wave of recession. Most of the people have lost their jobs due to this major hit of recession. These days, the unemployment ratio is also rising. Most of the masses are getting a lesser amount of salary due to which they are unable to pay their dues. It is true that the change of artificial money has created ease for the borrowers but at the same time it requires many years to solve the problem of unsecured debts. These days, many people are suffering from medical debts. Although they have medical health insurance, yet they are facing this problem. For the solution to these bad medical debts, the federal government has taken out some new rules and regulation to settle the issues easily and legally. And, the FTC is also very curious in settling the issues of the consumers who are suffering from medical loans.
The new laws state that an individual can get the medical dues cleared if he opts for the relief settlement option. According to this option, you just have to hire an experienced debt settlement firm. When you have hired that agency, then the agency would get you a reduction or you can say a discount in the medical bills up to 60 to 70 from your owed money and then you can repay the remaining amount in a lump sum afterwards.
Secondly, these dues can be eliminated by opting for the debt negotiation option. This option states that you should hire a settlement attorney. The attorney should be experienced enough to handle all of the disputes that would arrive in the following procedure. Then the attorney would negotiate on your behalf with the authorities and would convince them that you are unable to repay your medical dues. Now, if the authorities would consider your appeal then you would get full clearance in you medical loans without paying any kind of amount.
If you have an owed amount up to $10,000 of your medical loans then it is the right time as your problem can be solved by practicing any of the medical relief options available in the markets.
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.
