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Not always true about minimum payments - sm
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Posted By: been there....... recently on 2008-05-13
In Reply to: Is this a good idea or a bad one? - sm.

One of my kids was seen in the emergency department last April and we didn't get a bill for the visit until September. The outstanding bill was about 800.00.

As I have always done in the past, I made payments, no less than 100.00 per month to get it down. Along with the second statement in October was a letter from the hospital stating that we would need to choose one of three payment plans.
1. Payment in full.
2. Two installments for half of the balance each time.
3. Apply for a credit account at 18.9% interest.

This was definitely something new and I ignored it. There was NO way I was going to choose any of those three when I have always done as I was doing, making payments of no less than 100.00 per month until the balance was paid off.

Guess what.... when the balance was down to 200.00, they turned it over to collection. Yep. Turned it over.

Be very careful.


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