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One of mine (I have a stack) is $1400. I can pay a lump sum of 80% or $10/month into eternity for the full amount. Normally I like to pay things and get them behind me but I have such a big stack it's tempting to just have that tiny $10/month.
I technically have the money to pay them all, but it's just so much. Big ouch. I would be left with -0- savings.
Maybe you've already done this, but call and see what you can negotiate to get them lower.
I would pay all in a lump sum if I could. If not, I'd pay off as many of the small ones that I could just so I didn't have a bunch of different creditors and then put as much towards the big one you fill comfortable with and then pay $10+ X amount each pay period to get it paid off sooner.
I think it's 6K. I have been scared to add it up. At least 5K. At first I got bills around $100 here and there and just paid them, but now there is a mountain.
I sort of live in fear of the mail! One ambulance ride is 800. Insurance denied the claim. I got a notice from collections which freaked me out. They said it's ok, we know you are appealing with insurance.
I have perfect credit and I want it to stay that way.
This 1400 one was $25 at first then another lady said $10 will do. Odd, but ok. At least for now that stays out of collections until I decide what to do with it.
Maybe you've already done this, but call and see what you can negotiate to get them lower.
I would pay all in a lump sum if I could. If not, I'd pay off as many of the small ones that I could just so I didn't have a bunch of different creditors and then put as much towards the big one you fill comfortable with and then pay $10+ X amount each pay period to get it paid off sooner.
All the other places will work with me regarding income based program (well, I have to apply with all of them and see whether I qualify).
This one has no such program. Just a 20% cash discount.
I started off just paying the small ones like you said until they kept adding up. That is when I called asking about programs.
If the monthly payments are at 0% interest and it doesn't bug you to pay over time (as opposed to getting rid of them altogether), it seems like that's a better plan financially. You could set up automatic payments from your checking account so you wouldn't have to think about it (much).
Just keep an eye on the bills and compare them to your insurance EOB's, and make sure everything is correct before you send in any money. In my experience, medical bills are often incorrect and getting them to fix things can take a lot of time and effort even when you send them proof that they're wrong.
If the monthly payments are at 0% interest and it doesn't bug you to pay over time (as opposed to getting rid of them altogether), it seems like that's a better plan financially. You could set up automatic payments from your checking account so you wouldn't have to think about it (much).
Just keep an eye on the bills and compare them to your insurance EOB's, and make sure everything is correct before you send in any money. In my experience, medical bills are often incorrect and getting them to fix things can take a lot of time and effort even when you send them proof that they're wrong.
Good luck and good health to you!
Good reminder. Thank you! For now I think I will do the $10 or $25 a month so I don't fill this hit all at once.
I think it's odd how long they are willing to stretch that out. I need to double check about interest. Maybe they figure if they give low enough payments they will eventually get all their money as opposed to demanding more and people who can't pay simply don't.
Good reminder. Thank you! For now I think I will do the $10 or $25 a month so I don't fill this hit all at once.
I think it's odd how long they are willing to stretch that out. I need to double check about interest. Maybe they figure if they give low enough payments they will eventually get all their money as opposed to demanding more and people who can't pay simply don't.
That's exactly what it is. By accepting tiny piecemeal payments, they're getting SOMETHING. If they weren't willing to be flexible, they would get nothing.
Open the envelopes, throw out the duplicate bills, put them on a spreadsheet and figure out how much you want to pay a month.
Let's say you can pay $200 a month, pay as much as you can towards the smallest bill and pay $25 to each of the others. Keep track of what you pay on the spreadsheet. Repeat every month until you're done. Good luck!
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