Legal Question in Credit and Debt Law in Florida
medical debt from 2003
I have a large medical debt that I have not been able to pay and the date of service is 9/3/2003. I may have made a payment here and there over the years. I am receiving letters from a law office to collect. Someone told me that legally I do not have to pay this debt as the medical field most likely has written it off and these collection agencies are making money on it. Please tell me if this is truth and what my obligation is according to the law.
2 Answers from Attorneys
Re: medical debt from 2003
Sometimes it is true but often the collection agency has bought the debt. As long as you continue to make payments the statute of limitations does not begin to run. It is important for you to find out who now owns the debt; the collection agency or the original medical company. If its the collection agency, they may be more willing to negotiate a settlement.
Re: medical debt from 2003
Even if the hospital has "written off" the debt they may still act to collect and if successful must report any collections on their balance sheets. Also, any unpaid amount after settlement is considered taxable income. For instance, if you owe $5,000 and settle for $3,000, you will be responsible to pay taxes on the $2,000 as income.ince
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