Mastering Money: When GoFundMe Becomes the Plan — And What to Do Instead
As you scroll through your social media, chances are high you’ll see a GoFundMe. A friend of a friend is fighting both a cancer diagnosis and sky-high medical bills. A neighbor is asking for help after their daughter had an emergency appendectomy. A coworker’s wife is facing complications from Long COVID and your employer-sponsored plan […]
7 Strategies For Protecting Your Finances From Medical Expenses
Being in good health is priceless, but there can often be a personal financial cost to looking at your healthcare. Each year, more than half a million Americans file for bankruptcy due to medical bills, which is the number one cause of bankruptcy in the country. Even in cases where bankruptcy is avoided, dealing with […]
Could a Hospital Bill Wipe Out Your Savings Find Out Now
Could a Hospital Bill Wipe Out Your Savings Find Out Now Hospital bills can often feel like a labyrinth of charges and fees, leaving many patients confused and overwhelmed. Understanding hospital bills is crucial for anyone who has ever received medical care, as these documents can significantly impact your financial health. A hospital bill typically […]
Dealing with Old Medical Debt
Q: I have an outstanding medical bill from 2/2009 (DOS) for $92.00. I had a debt collector call me today. I am wondering if this medical bill is past the statue of limitations. I live in Florida. A: Thanks for reaching out to me about your $92 medical debt from Feb. 2009. Some debts have a statute […]
Changes That May Impact Your Credit Score
Your credit report and credit score remain important as you approach preretirement or retirement. Whether you cosign for a child’s or grandchild’s loan, tap your home equity to buy a vacation home, or simply finance the purchase of a new car, you’ll need to have good credit. Here’s what’s happening in the credit landscape this […]
5 Tips To Make Health Care Costs Affordable Amid ObamaCare
For some people, good health insurance coverage can offset some, if not all, of their health care costs. But if you find that you can’t afford to pay your deductible – or if you don’t have any insurance coverage at all – you’ll need a plan to manage your health care costs without driving yourself […]
Can Calling About a Medical Bill or Debt Make It Stay Longer on Your Credit Report?
A reader of AskTheMoneyCoach.com wanted to know how long a medical debt stays on their credit report, and what happens if they make an agreement to start paying it again. This is what the person asked: Q: Is it true if you call to inquire about a medical bill, the time starts all over again […]
My Credit Was Ruined Over Medical Bills and Health Issues—Now What?
My Credit Was Ruined Over Medical Bills and Health Issues—Now What? If medical bills or a personal health crisis caused your once-solid credit score to nosedive, you’re not alone. Millions of Americans experience financial strain due to healthcare costs, and even a brief period of missed payments can leave a lasting mark on your credit […]
Does Medical Debt Hurt Your Credit Score as Much as Credit Card Debt?
Q. Does medical debt affect you (or your credit score) as much as credit card debt? A. No, medical debt doesn’t affect your credit rating as much as credit card debt. In fact, medical bills do not adversely impact your credit or your credit score at all, unless you have long overdue medical accounts that […]
Can a Medical Collection Be Removed From My Credit Report?
Question: Can I remove a medical collections from our credit report? It has been paid and it is our account. I didn’t know that it had been reported. I did call the collection agency and was told by law it could not be removed unless there was a mistake. I was told I could dispute […]
Where Can I Get Help Paying My Medical Bills?
It will take multiple steps to help you eliminate your medical debt. Here are six strategies you can use to knock down those hospital bills and improve your credit rating. Examine Everything Start by going over all your medical bills with a fine-tooth comb. Question charges that seem inflated (like that $20 bottle of aspirin). […]
I Owe Back Taxes on My Home and Have Medical Debt. Should I Sell My House?
Q: I Have a Property About to Be Put on Sale for Tax Delinquency in Florida. I Have Medical Debt Due to a Spinal Injury and Was Diagnosed Disabled by the Government Rehab Serv Admin. I am Going to School and Have no Job. My Debt is About $15,000. I Live off an Annuity Pension […]
Removing False Medical Claims From Your Credit Report
This is, unfortunately, a bad case of identity theft. You need to protect yourself and your son in a number of ways, starting by pulling your most recent credit reports, examining them for any other accounts that you may not know about, and then putting a credit freeze on your credit reports. Read this article for more information about how a credit freeze can protect your credit rating.
I Have Over $5,000 in Delinquent Hospital Bills. How Can I Pay It Off?
Q: I have over $5,000 worth of delinquent hospital bills on my credit reports. How can I get this debt down? A: It will take multiple steps to help you eliminate your medical debt. But here are six strategies you can use to knock down those hospital bills and improve your credit rating. Examine Everything […]
Which Bills Should I Pay Before Filing Bankruptcy?
Q: I want to file for bankruptcy this year. Should I pay off the small bills that I can afford to pay before I file bankruptcy? A: Filing for bankruptcy will not help you “repair” your credit. It will only damage your credit – although filing for bankruptcy protection today does not have the same […]