Consumer Finance Protection Bureau May Look at Medical Debt ...

Unfortunately, care providers do not always know how long this takes or where in the process the bill is. Without insight into the communication between patients and insurers, sometimes medical providers forward their bills on to collections before patients even know they owe money. ?The issue of consumer debt is usually discussed in relation to a consumer?s ability to pay, but for medical debt, the problem is one of information,? said the Senators? letter. This flawed information can blemish the credit history of responsible consumers, making those reports less reliable. In some cases, a patient?s credit score can drop up to 100 points: damage that can take up to seven years to disappear.
Source: marrsterry.net

Video: Medical Bankruptcy

Student plagued by medical bills until surprising move by insurer

Recently, medical debt drove one doctoral student to near-bankruptcy. That is, until a gesture by his insurer paid off the remainder of his debt. The student was diagnosed with cancer in February 2011 and at the time was insured under a student health plan that cost $400 per month, but had a $300,000 cap. After maxing out his policy, the man received no help from his insurer, the university or the state. He decided to begin an internet campaign to attract attention from the public and donations to assist with paying his medical bills. He also used the San Francisco-based Twitter to complain about his insurance company.
Source: sanfrancisco-bankruptcy-attorney.com

When You Should File Medical Bankruptcy

But given the nature of medical conditions that often require ongoing treatment and costs, it is important you file for bankruptcy at the correct time. This is because bankruptcy can only discharge debts that have already been incurred, not those that are yet to be incurred. The last thing you would want is to incur hefty medical bills after you exit bankruptcy. You will not be allowed to file for bankruptcy protection until several years have passed. Thus all debts incurred after your bankruptcy is over are yours to bear.
Source: jdsupra.com

Insurance company pays man?s medical bills after Twitter complaints

A 31-year-old man who was denied $118,000 in medical claims will now have those bills fully covered after posting on Twitter. The doctoral student was diagnosed after a trip out of the country in 2011 and received emergency surgery, leading to huge medical bills that put him close to bankruptcy. The man paid $400 premiums for a student health insurance plan, but quickly surpassed the policy?s $300,000 claim limit, after which his insurer denied any further coverage.
Source: ftlauderdale-bankruptcyattorney.com

5 Reasons American Healthcare is Trashed

You probably already knew that, but it?s staggering to see just how little cash goes into keeping the doctor away: Between 92 and 95 percent of all healthcare dollars are spent on surgeries, imaging, emergency room care, and intensive care, according to a study in the?Journal of the American Medical Association. At the same time, 40 percent of deaths in the United States are due to entirely preventable factors like not exercising enough, smoking, and not wearing a seat belt. ?There?s some pushback against a nanny state, but at a minimum we need to educate people with the right information about how their choices affect their lives, and they can make their own decisions,? Epperly says.
Source: mydailycomplaint.com

Amy?s Money Health Care Blog: Bankruptcy and Your Bills

Before I discuss more about negotiating medical bills ?..if you know that there is no way to get out of your debt because the medical bills will not stop coming?go talk to a couple of bankruptcy attorneys. ?The professional folks will see you for an hour for free?.see a couple so you can compare. If you have never done a home budget inclusive of medical bills now is a good time to do this?especially if you are not going to do a bankruptcy?you need to be able to discuss intelligently with creditors exactly what you can pay monthly in the long and short run. ?You would be very surprised to know what companies are willing to do to get paid?.you must do the paperwork to understand your options and be able to negotiate. Write down a plan? Being in financial straits is not a time to be embarrassed or ashamed?many of us have been there?especially in long term illness?. It is the most important time to plan, be honest and make important arrangements. Do not do this alone. What you need to realize is that once the bankruptcy is filed that you will be responsible for future bills? I will not say more since I am not an attorney?just ?explore all of your options and plan?plan?and plan some more?.treat you healthcare like a business. http://crowdfundinglive.com/amy
Source: blogspot.com

Can bankruptcy help with medical debts?

The good news is that all medical debts can be discharged in bankruptcy court as long as the person qualifies for a Chapter 7 or Chapter 13 bankruptcy. Medical debts are unsecured debts unless the medical creditor has obtained a judgment. In? my experience, most medical creditors do not seek judgements but try to seek payments through other collection methods. One of the newest collection methods in South Carolina for medical debts is the Gear Program. This program allows hospitals to collect on their medical debts by seizing individuals?South Carolina tax refunds. If you think your South Carolina tax refund may be seized, please come see me immediately and a bankruptcy filing can prevent the medical creditor from seizing your tax refund.
Source: danielstonelaw.com

EMPIRE of DIRT (click Cash cover of ?Hurt?): Medical Bankruptcy: Trying to Fight Colon Cancer Without Insurance Coverage

Unfortunately, cancer treatment is quite expensive, and recently the ASU student insurance plan stopped covering my cost of care. The Aetna student health insurance plan provided by ASU caps the lifetime insurance benefit paid out at $300,000, which the high cost of treatment used up in less than one year.] http://poopstrong.org/
Source: blogspot.com

Student?s health insurance plight highlights problem of crippling medical debt

A rather hopeful story is mentioned in a recent USA Today article. The story is about a grad student at Arizona State University who fell surpassed the $300,000 lifetime limit on his Aetna stent-health-insurance plan due to a battle with stage 4 colon cancer. After voicing his plight on the internet, a representative from Aetna agreed to pay his medical costs despite his maxed-out coverage.
Source: tennesseebankruptcylawoffice.com

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Source: http://howtofilebankruptcyco.com/consumer-finance-protection-bureau-may-look-at-medical-debt-reporting/

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Source: http://paulineshedd45.typepad.com/blog/2012/09/consumer-finance-protection-bureau-may-look-at-medical-debt.html

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