If you find yourself facing financial trouble, you must take all the right steps at the as soon as possible. For example, you may realize that bankruptcy is on the horizon if you don't make immediate changes to deal with the situation. This may not be the worst thing for you, but it doesn't mean you should simply give in.
Many people facing financial difficulties are in this position because of mounting medical bills. If you find yourself in this spot, it's important to realize one thing: you have the right to negotiate your medical bills. This doesn't mean that the provider will agree to negotiate, but you have the right to try.
Here are several top tips for negotiating medical bills with success:
-- Keep good records. This is one of the best things you can do, as you can compare your records to the bills you receive in the future. If you find a discrepancy, you'll have the power when negotiating.
-- Review each bill carefully. Rather than call the provider and ask for a discount (which you can do), it's always better to have a reason for your negotiations. For example, an error that led to a higher bill than expected.
-- Don't wait. If you know you want to negotiate a medical bill, don't wait around. Instead, call the provider as soon as possible to discuss your options.
When you follow these tips, you will soon find that negotiating medical bills is not nearly as challenging as it sounds and you may find yourself in a better overall financial position.
Source: U.S. News & World Report, "5 Expert Tips for Negotiating Your Medical Bills," Lacie Glover, accessed Nov. 24, 2016