Facing Medical Bills You Hadn’t Planned On? A Debt Consolidation Loan Online Can Help

By Thomas Erikson

An unexpected car accident or heart attack is stressful enough in itself. When you compound that with the medical expenses as a result, the numbers can grow quite scary. Usually a hospital will be willing to work out some sort of plan with you so that you do not have to pay the entire expense immediately, yet this is not always enough. Sometimes the amount they’re asking you to pay in installments is more than you can afford. After all, with the medical problem, the every day expenses did not disappear. There is still the mortgage to pay, utilities, cell phone, food, and any other monthly expenses you may have. In order to make this expense not the one to cause you to file bankruptcy, a debt consolidation loan online can be just what you need to get you through this time of crisis both financially and for your own peace of mind.



Any unsecured debts that you pay monthly can be condensed into a debt consolidation loan online. This can include the medical expenses incurred. Rather than having to pay according to the timeline of what the hospital is asking, or having to pay everything immediately as some hospitals will demand you do a debt consolidation loan online can take that amount and break it into affordable payments that you can pay over time. The hospital will be satisfied because your debt to them will be satisfied and the services that they provided will be paid for. You will be able to continue life as usual and pay off this outstanding debt along a timeline that you can live with.



Unlike other credit, a debt consolidation loan online will not charge outrageous amounts of interest. If you paid those medical expenses by credit card, you would end up paying enormous interest rates and it would take you quite some time to pay off the debt. With a debt consolidation loan online, your medical debt, along with any other unsecured debt you may have such as credit cards, can be combined into one monthly amount that you can live with. You may even be able to free up some additional monies each month to use however you like. With a consolidation loan, there are certain fixed terms which mean that you will not be paying on this debt for the rest of your life which you may end up doing with a credit card. You will decide how long you’d like the term of the loan to be and your payments will be adjusted accordingly. If you can afford to pay a little more monthly, you may be able to be free of your debt in three to five years. If you need to pay a little less each month the term can be extended. That will be between you and loan officer to decide.



The greatest benefit of loan consolidation in this manner is that this is a very private way to obtain this loan. Getting a debt consolidation loan online only has to be discussed between you, perhaps a spouse, and the loan officer. You will not have to worry about friends and neighbors seeing you sitting at a desk in the banker’s office which they will inevitably question you about. This is done all at home and online so you have complete privacy in this matter. This remains your knowledge unless you feel like you want to share it. This is your own road to pay off those medical bills as well as others you may have and keep your finances positive.



About the Author: Discover the power of a debt consolidation loan online to effectively get your finances under control. Visit http://www.your-debt-consolidation-loan.com to find out more about how you can turn your finances around.



Source: www.isnare.com

Dental & Medical Legal Debt Collection

By Joel Walsh

Every medical and dental practice has to deal with patients who do not pay. If it doesn't deal with such patients, the costs will simply be passed on to other patients--or the practice may simply suffer or fold. Yet the very real dental and medical collections legal issues mean you should think carefully before reminding your patients to pay up.



In the end, you may very well be better off outsourcing your medical or dental accounts receivables to one of the new medical and dental collection agency/accounts payable processing centers. According to the Fair Debt Collections Practices Act (FDCPA), your medical or dental billing notices fall under essentially the same regulations as a mega-bank's car loan collections.



Real-World Medical and Dental Debt Collection Law Quandaries



Anne, a secretary at Westville Orthopedic Associates, calls up a patient who just turned 18, to remind him of an outstanding copayment. The patient's mother answers the telephone. Should Anne:



1. Take the issue of the co-payment up with the patient's mother?



2. Leave a message with the patient's mother to remind the patient of the outstanding co-payment?



3. Leave a message for the patient to call the Westville Orthopedic Associates back?



4. Say she will call back later and quickly hang up?



All but one of the four options above will be a violation of federal debt collections law. Can you guess which one?



The correct course of action is option number 3. Why are the others illegal?



Look at each of the options above:



1. It is illegal to disclose a debt to a third party.



2. See number one; remember that messages regarding a debt are essentially disclosures to a third party.



3. This is the only suitable course of action.



4. The FDCPA requires all creditors to identify themselves when making a call. While you can't say what you are calling about, you must say the name of your business before hanging up.



Not ready for your medical or dental practice to become a law practice? You can get around medical and dental collection law matters by outsourcing the entire job to a professional medical or dental accounts receivable processor or medical collection agency. This option also has the benefit of saving your staff a lot of work.



After all, not only is your medical or dental practice not a law practice, it's not an accounts department, either.



About the Author: Joel Walsh has written more tips on debt collection law: http://www.debt-collection-laws.com/?%20debt%20collection%20law [Web publication requirement: create live link for the URL/web address using "debt collection law" as visible link text/anchor text; EXCEPT if redistributing (article bank, aggregator, or clearinghouse), anchor text optional.]



Source: www.isnare.com