People come up with the silliest reasons not to negotiate for a settlement with their medical service provider. Read ahead for some silly reasons that you should never give if you're facing debt problem and if settlement can help you overcome the same.
My credit card issuer called me and offered a settlement while my doctor did not. Hence, credit card issuers are ready to settle but doctors are not.
Credit card issuers are calling people because they are under pressure from the government as well. Bulk of the stimulus package has been offered to credit card issuers and other financial institutions. Bulk of the money has come from the government i.e. taxpayer money. In such a scenario, it is not surprising that the government is putting subtle pressure on the credit card issuers to help borrowers.
No such pressure has been placed on medical institutions. However, this does not mean that these institutions are not facing the problem of excessive bad debts. Loan recovery has come down by a drastic margin and more and more people are opting for bankruptcy or other solutions to escape their debt.
All this is causing a huge loss for financial institutions and medical institutions. Do not be disheartened by the fact that your doctor has not given you a call yet. Instead, why don't you take the first step and seek a settlement. If you give the right reasons, you will definitely find that doctors are prepared to offer generous settlements.
To try and settle debts with the doctor is equivalent to cheating.
If one enters the morality debate, then each and every cent that you have borrowed must be repaid in full. However, morality works both ways. If you are required to repay all your debts in full, then lenders too are required to be generous. However, lenders are always focus on their profits and try to earn the maximum amount possible. In such a scenario, there's no point in being moral when morality and other such notions are applicable to the borrowers alone.
If your conscience pricks you, then keep in mind that opting for bankruptcy is even worse than settlement. Settlement will fetch at least a thirty percent repayment. Bankruptcy will offer even less benefits to the medical institution. Further, the settlement is a much better option as compared to bankruptcy when you think five to ten years from today.
0 comments:
Post a Comment