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How much should I offer to settle a medical debt before court?


Cliff2009
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I recently answered a summons regarding debt from a hospital, they did not provide me with good enough information regarding the debt but I am sure I will need to settle.

Is there a rule of thumb regarding how low of a lump sum offer I should make in order to avoid court?

The debt is in the $2,500 range plus legal fee's

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  • 3 weeks later...

Hey There,

As far as I know, Medical Debt *never* goes away. At least not from your Credit Report. There is no SOL and it doesn't just 'drop off'.

Having said that, I'd say, if they are taking you to court, you will likely need to pay it in full or set up a payment plan, otherwise you may *also* be liable for their court costs TOO... In other words, there is no negotiation on this one. It's not like regular debt I'm afraid.

But do your own DD and find out if I'm correct.

-RD

Edited by RockDaddy
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As far as I know, Medical Debt *never* goes away. At least not from your Credit Report. There is no SOL and it doesn't just 'drop off.

Well that is not even remotely true. Yes, there are some cases where med debt won't be beat by a statute of limitations, such as a state funded hospital, but they will drop off your report.

In my state medical debt even has a lower statute of limitations than credit card debt, two years and credit card is three, and written contract five years.

With that said, it all depends. If you have nothing, are basically judgment proof and the outlook on you getting money anytime soon depends on you hitting the powerball, you can settle low.

If you have a job, property, or are in school and your outlook on money looks good, they will want it all and will be happy to just get a judgment and let it gain interest until you have something they can attach or take from you.

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Well that is not even remotely true. Yes, there are some cases where med debt won't be beat by a statute of limitations, such as a state funded hospital, but they will drop off your report.

In my state medical debt even has a lower statute of limitations than credit card debt, two years and credit card is three, and written contract five years.

With that said, it all depends. If you have nothing, are basically judgment proof and the outlook on you getting money anytime soon depends on you hitting the powerball, you can settle low.

If you have a job, property, or are in school and your outlook on money looks good, they will want it all and will be happy to just get a judgment and let it gain interest until you have something they can attach or take from you.

Colt,

My bad, I think I was thinking of 'student debt', which as far as I know, doesn't go away. I could be wrong here too though. Thanks for setting me straight.

Pursuant to this though, how does one check SOL on medical debt? Also, I started a thread about Realtor Debt, with no response from anyone, is a rental contract the same as regular contract?

Sorry to the OP, I am not intending to hijack this thread by any means, just figured I'd ask the question while Colt is in the proverbial, 'room'.

Thanks to you.

-RD

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