Books

  • Jeff Michael: Repair Your Credit and Knock Out Your Debt

    Jeff Michael: Repair Your Credit and Knock Out Your Debt
    I highly recommend this book because I wrote it.

  • Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds

    Edie Milligan: Tips from the Top: Targeted Advice from America's Top Money Minds
    I have about a dozen entries in this book.


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« "Debt Recovery" means more than credit counseling | Main | Medical billing question »

Comments

Jeff, I just received a statement from my child's pediatrician's office. The statement is for services from February. This is the first statement that I have received for this visit and the amount due is already 31 to 60 days late. I'm meticulous about keeping credit bills and statements for about two years, especially medical bills because of the tax deduction for medical expenses. Seeing that the statement was already considered late, it made me interested to find out how many times I've been billed for medical expenses so long after the visit. I looked back and found that about 90% of my bills were either; billed before the insurance company had paid for the visit, making my bill/statement for the entire amount of the visit (which, of course, I had no intention of paying until insurance had paid their portion, making my amount due late by the next time the billing cycle had come around to find out my "real" amount due); or, billed thirty or more days after the visit, after insurance had paid (making my amount due fall in that "late" category). In every instance, I've found that I've never been charged a late fee or interest on the amount due although, by stated billing practice, I could have been.

This raises the question for me: How many of these collections/bankruptcies due to medical bills that we hear about are because of, what I would consider, sloppy billing practices used by the medical office or insurance company? Sure, I understand the huge emergency medical bills that have defaulted because of lack of insurance (I have a family member who works construction in that bind), but what about the people that have insurance but just don't understand the billing statements that they receive?

On an unrelated note, you might want to check out the article about Ray Zwego from Saturday's Kansas City Star, http://www.kansascity.com/105/story/62993.html. This is a great example of how the mortgage industry has screwed itself through funding sub-prime loans and mortgage fraud.

Alex

I'm moving this comment to it's own post so I can mull it over.

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