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Need Advice, on Paying off a Credit Service
Posted by: Microman
Date: April 06, 2021 03:29PM
Grandson went to the ER back in March 2018. Had insurance as per his dad. Apparently when you go there is a hospital charge and a physician charge.

So now this bill that has been hanging around for the physician that started out at $1,041.00, then an offer on Feb 1, 2021 to pay it off for $832.80. Then an offer came on 3/19/21 with a Settlement Offer Amount of $624.60.

I don't want to gamble that it will keep going down. My grandson has nothing to lose, as he has not much.

The grandmother wants to pay it. There seems to be only 2 days left for this offer to be good, Says must be paid in full by 4/8/21.

So if I had time and sent a check, they would have my Routing #, and Bank Account #.

IF I log on to their site, there is an option to pay by check, by entering all the numbers. Or Debit card, or credit card.

What would be the safest way to pay, so that they cant reverse anything, or take more?

I have an extra saving account that belongs to the same Credit Union, I set up years ago for eBay stuff, just not sure if I put the $ to pay the debt that I can enter a routing and account number for the savings account. Then just leave the account it practically empty.. And I would have the letter saying that it is a SETTLEMENT OFFER.

Ideas?



Edited 1 time(s). Last edit at 04/06/2021 03:31PM by Microman.
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Re: Need Advice, on Paying off a Credit Service
Posted by: Gareth
Date: April 06, 2021 03:33PM
Pay with a credit card and keep a record of the settlement amount and whatever confirmations you get when paying (i.e. take screenshots of the amount as you're paying and after you've paid). You can always dispute with the credit card company if something fishy happens.
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Re: Need Advice, on Paying off a Credit Service
Posted by: rjmacs
Date: April 06, 2021 03:48PM
Credit card is safer, but make sure that the amount is listed when you pay the charge. Is the correspondence coming from the physician's practice, or a collections agency? Usually settlement offers come from collections, because they've already bought the debt for far less than the full amount, and can afford to negotiate and still profit.

Make sure it's clear in the letter that the debt settlement is final, and be aware that this can still hurt the debtors credit. There's a lot of good information here about medical debt settlement.



rj
AKA
Vreemac, Moth of the Future
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Re: Need Advice, on Paying off a Credit Service
Posted by: modelamac
Date: April 06, 2021 03:52PM
Pay by Check. Endorsing and depositing the check constitutes payment in full. Insurance companies use this method constantly.

Quote
Microman
Grandson went to the ER back in March 2018. Had insurance as per his dad. Apparently when you go there is a hospital charge and a physician charge.

So now this bill that has been hanging around for the physician that started out at $1,041.00, then an offer on Feb 1, 2021 to pay it off for $832.80. Then an offer came on 3/19/21 with a Settlement Offer Amount of $624.60.

I don't want to gamble that it will keep going down. My grandson has nothing to lose, as he has not much.

The grandmother wants to pay it. There seems to be only 2 days left for this offer to be good, Says must be paid in full by 4/8/21.

So if I had time and sent a check, they would have my Routing #, and Bank Account #.

IF I log on to their site, there is an option to pay by check, by entering all the numbers. Or Debit card, or credit card.

What would be the safest way to pay, so that they cant reverse anything, or take more?

I have an extra saving account that belongs to the same Credit Union, I set up years ago for eBay stuff, just not sure if I put the $ to pay the debt that I can enter a routing and account number for the savings account. Then just leave the account it practically empty.. And I would have the letter saying that it is a SETTLEMENT OFFER.

Ideas?



Ed (modelamac)

I think I will just put an OUT OF ORDER
sticker on my head and call it a day.
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Re: Need Advice, on Paying off a Credit Service
Posted by: Michael
Date: April 06, 2021 04:13PM
Credit card is the safest because you have federal protection with credit cards that you don't have with checks or debit cards. An individual bank might advertise that they protect you regarding debit cards, but they have no choice with credit cards.
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Re: Need Advice, on Paying off a Credit Service
Posted by: Ombligo
Date: April 06, 2021 04:49PM
Credit card, copies of everything



“No persons are more frequently wrong, than those who will not admit they are wrong.”
-- François de La Rochefoucauld

Growing older is mandatory. Growing up is optional.
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Re: Need Advice, on Paying off a Credit Service
Posted by: wurm
Date: April 06, 2021 07:11PM
Do any of your credit cards offer virtual credit card numbers? That was a great way to get a virtual number with a fixed amount for a fixed time period. My BoA card used to offer it but no more. Not sure which ones, if any, do now.
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Re: Need Advice, on Paying off a Credit Service
Posted by: rjmacs
Date: April 07, 2021 01:02PM
Quote
wurm
Do any of your credit cards offer virtual credit card numbers? That was a great way to get a virtual number with a fixed amount for a fixed time period. My BoA card used to offer it but no more. Not sure which ones, if any, do now.

With Apple card, every purchase is a one-off number/transaction.



rj
AKA
Vreemac, Moth of the Future
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Re: Need Advice, on Paying off a Credit Service
Posted by: wurm
Date: April 07, 2021 03:46PM
Yes, that's one of the great things about Apple Pay. But can you generate a number to use online? Plus, not every company or vendor accepts Apple Pay (yet).
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