Many Maryland residents struggle with their financial obligations and end up needing bankruptcy as a solution. Unfortunately, some people do so because of unforeseen issues like medical emergencies. As a result, they’re stuck with medical debt they can’t alleviate. This is how to deal with such a situation.
Review your medical bills
Review all your medical bills and insurance documents that include an explanation of benefits. Check for duplicate billing, charges not authorized by you and mistakes. If any of these things are present, you can contact your insurer or doctor and ask questions.
Negotiate your debt
If all your medical bills are correct and there are no discrepancies, you can take steps before resorting to bankruptcy. Contact your healthcare provider to negotiate the costs of your medical debt. In some cases, they may be willing to lower what you owe so they can get paid. This is especially true if you’ve been seeing a certain doctor for a number of years.
Look into a hardship plan
Some doctors and hospitals allow patients with low incomes to join a hardship plan. This makes it easier to repay debt. If this option is available to you, you may be allowed to have your total medical debt lower and make smaller payments that don’t overwhelm you.
Ask about a payment plan
Some medical professionals are open to allowing their patients to repay them through a repayment plan. If your doctor is amenable to this, get a written agreement. You may be able to make monthly payments without interest or with very low interest. In some cases, you might consider a lump sum payment; if you’re able to afford this, it could immediately relieve you of your debt.