North Carolina Hospitals Set up Interest free payment plans with no collections

[gerogie2]

As long as the patient makes timely payments the accounts will not be referred to collection agencies.

Hospitals Offer Interest-Free Payments to Reduce Debt
by Darren Waggoner
JAN 8, 2015 1:29pm ET
Charlotte, N.C.-area hospitals have started offering multiyear interest-free payment plans to help reduce the number of outstanding bills as consumers pay more out-of-pocket medical costs.

http://www.collectionscreditrisk.com/news/ccr_otherconsumer/hospitals-offer-interest-free-payments-to-reduce-debt-3020269-1.html

[onethatcares]

1. I always thought

some money coming in was way better than none. Demanding immediate payment in full of a 10K bill is ridiculous to expect from most folks.

Here in sunny St Pete Florida one of the hospitals has it's own credit vulture section that wants patients to apply for a "credit" card to manage medical debt. First 6 months are interest free, then it's 5.9%, if you are late or miss a payment the rate jumps to 23.99%.
Of course they can change the terms and rates at any time and it even says so on their website. I think that turns medical debt into credit card debt.

It seems like a payday loan scam.

Hey, this is my 7800th post and I've been here from 2001. YeeHaw. What did I win?

[benz380]

2. You win a free credit card from a St Pete hospital!!! YeeHaw! n/t

[gerogie2]

3. Sadly most Credit Cards

Can change the terms or cancel the account at anytime. The reason most do not is because they make more money having you pay 1 to 2% of the balance plus the interest due that month.