By far, medical bills comprise the majority of accounts placed with collection agencies, not because the the doctors are heartless but because of the sheer volume of unpaid medical bills.
To give you an idea of how the average consumer prioritizes their medical debt, consider that a collection agency will receive a payment, not necessarily payment in full, on only 1 in 4 accounts placed. Put another way, 3 out of 4 medical accounts at a collection agency will never receive a payment at all. Would you buy a lottery ticket with those odds?
Here at JP&C, we have a debtor with an $80 medical bill placed in 2007. She buys a money order for $2 every month and sends it in to be applied to her debt. She has never responded to our phone calls or letters so we don't know if she is sending the $2 as a statement of displeasure or because that's all she can afford and wants to do the right thing.
I believe it's a statement and it's one that I admire and applaud.
Friday, April 3, 2009
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