I'm Being Chased By Debt Collectors
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- čas přidán 5. 07. 2018
- I'm Being Chased By Debt Collectors
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I love that Dave still takes the time to break down all the steps after all these years. I think most of us would have lost the patience for it by now.
It's not just for the person on the phone, it's for thousands of people around the world at that moment in time.
I just paid $105 towards a debt after listening to this. I cannot wait to be debt free in February 2020. Total debt 14k, paid off so far $6k.
You rock. I hope you make it and i see you give a debt free scream
Great job !!!! We are shooting for December 2020
You can do it! Im also paying off debt.
I hope that worked out for you champ!
Hows it going?
I am not done with my debt yet but when I paid that car off, it drove so much better..and yes I did a debt scream!!!! Dave was right it feels like a raise!
I had medical debt and they will not settle at all. Insurance paid 50,000 my deductible was 2500. They wanted it all. Sued me and garnished my wages at about 250 a pay check.
As a 19 year old listening to Dave Ramsey I never gonna have debt.
It funny if you just take care of your self you be better financialy and Heath wise
madbear3512 it’s nice in theory but this lady doesn’t seem dumb. We don’t know the medical conditions that caused the debt. If someone in a family were to get cancer or something and lose their ability to work, the combination of loss of income and high medical bills could easily throw the most careful of us out of whack. While it’s wise to avoid consumer debt, it’s the medical debt that’s the most understandable and forgivable in the long run.
Also, I like to think of someone coming to Dave as a convert - they weren’t dumb before, just misinformed. Those of us fortunate enough to discover him at an early age (I’m in my early 20’s) should be thankful, but we should not look down on those who came later to the process
Emily Legel
I agree some time it not in your control. But you can still keep your self in The Best condition probable
Thats why you have savings aswell the longer your debt free the better you are prepared for life events. But in truth its the lord that helps aswell
Bro im 20 & I said the same thing.. till I had an accident and had to go to the ER. I dont owe much its not really affecting me tbh but its still debt that I never expected. So yeah be responsible but also be ready bc you never know
your generation is truly blessed to have so much knowledge!! ☺☺☺❤❤l wish u success!!
In order to build wealth there are some factors to consider...........GOOD HEALTH being number 1 on the list. Nothing can derail a wealth building plan faster than a couple of trips to the doctors office, pharmacy or hospital. So be safe......eat a apple 🍎 everyday.
Marcus M. yes but what about things not in your control like the Emergency Room? A lot of people get into accidents that land them into the Emergency Room.
I have pretty good insurance at work. I'm fine
Ride your bike anywhere within 2 miles at first. Then work up to anywhere within 5 miles. Then within 10. Eat right and your health will soar. Will save money in healthcare AND in transportation costs. Bikes will save the world!
@josh S, Yeah "good health" is not forever... we all get sick, old and die. You can either continue eating poorly and not exercising, OR eat a little better and move a little more. Practicing good health habits doesn't make you invincible, but it goes a long, long way. Bringing universal healthcare into Marcus' comment is semantics.
Believe me I eat several apples daily 💪
Sending a personal check is not a good Idea because from experience I've had merchants use my bank account number at the bottom of the check and use it
Yeah a cashier's check would be a better option, or maybe a money order.
You could also walk in there with cold hard cash. "I have 27 $100 bills in this envelope. If you settle everything in full you can have it. That won't settle it? Oh ok."
Just psychologically it's very hard for people to turn down cash. That's why they say cash is king.
Pay your bills and that won’t happen
You mentioned paying the debt from a Moral stand point? Well no human being should pay what they charge for an X-Ray or MRI period! I would pass laws against them suing people!
You do if you want to continue living.
You missed the point, no other industry allows this level of price gouging. The price your insurance pays is peanuts, you pay ten times that amount.
Well said. You have zero moral obligation to pay for what is a life necessity. Health care has no business being a for profit commodity.
She should have negotiated with the medical debtors before it ever went to collections.
Thank you!👏👏
Debt collectors do not have a contract with you. So, they technically cannot sue you for whatever balance you have. Also, after 7 yrs the debt is off your credit report. Lastly, there is a statutory of limitations on when debt collectors can collect on the debt. After the period has pass, they cannot go after you.
So you are stealing and the rest of us have to eat it with higher cost of everything.
@@dcg590 pretty much
Debt collectors absolutely can sue you as long as they are able to validate the debt (prove that it’s yours and you owe it)
It might be seven years, but a collection can report to the bureau after the six-year
Probably shouldn't call into Dave and respond with "my boyfriend and I make $X".....
Mark Smith why?
Because there isn't anything legally binding to that statement. Plus Dave is a conservative who believes in marriage not living arrangements.
CZcamsDude why would anyone with common sense pay for their girlfriend's debt? So their income is irrelevant to dent discussions
Mark Smith Matthew Graham I was the caller. My bf and I help each other with our debt. Never said he pays for my debt. this is my debt. but we work together as a team. Total household income in my eyes is both incomes together.
We are aware of how you view it. My point is in discussing this view with Dave. He won't see or understand your perspective if you not working within a traditional marriage.
I moved to a new city and set up a cell phone with the local area code. I started getting collections calls for the previous owner of the phone number. He'd changed the number as a way to dodge the creditors and then skipped out on a ton of debt. Very quickly I had all kinds of very mean people calling and harassing people. Lucky me.
Funniest thing was that apparently this guy didn't let even his family know that he'd changed his number. I got a call from a cousin that invited me to the family reunion. I tried to tell her I wasn't that guy and she was convinced I was just pulling her leg.
After about 10 days of this craziness I changed my number so that I too could dodge the collectors.
I can confirm what Dave is saying. Collectors are absolute idiots. They started sharing all kinds of personal details for this guy with me despite me repeatedly telling them that I wasn't this guy.
get on beans & rice, rice & beans!!
"In writing" is that email?
just eliminate the the person in the relationship and your debt free. huehuehue
1. If it’s close to its statue of limitations just let it fall off.
2. Paid in full is better than a settlement
Others tell not to pay collections and just wait the time out
If it’s hospitals,& doctors,pay them directly.Some bottom feeder collector didn’t take care of you.
bigroy38 Usually can’t pay direct if you’re as late as she is. The debt was already sold to the “bottom feeder”.
Its funny to hear what salaries people survive on around the country and how different cost of living can be. My annual property taxes are the same as her annual take home pay.
Right. Our yearly income is 18,000. And we are able to pay off debt. Crazy
Amanda stone That's starvation income in California! $44,500/year qualifies you for low income status.
Why do debt collectors even settle for less than the original debt owed? I mean I'm glad they do but can't they just say you pay us this amount or we'll see you in court?
They bought the debt for pennies on the dollar. It's a numbers game. The original creditor sold it off to get money, they were satisfied getting peanuts. If they are a collection agency tell them to kick rocks.
Settle medical! You can get that lowered. I’ve never heard you can get sued for medical.
Pay up or run for your lifeee !!!😱
INVESTING HUSTLER - Stocks Money Entertainment , 😂🤣😂🤣😊. Here is an idea. Your rich wire her some money so that she doesn't have to run!!!
He’s teaching her “how to fish” as the saying goes, so she can “eat” tomorrow not just today.
Settlement isn’t good.
No Dave you don’t advise sending them a check. The check has the routing and account number. You told her not to give them access to her checking account info but sending them a check is completely contradictory.
If you settle, they can't take more than you authorized.
Smallest to largest. Five cents at a time if that’s all you have. You got this girl.
I love how positive ❤️ you are .😊
Q Montgomery Thank you.
Dont send a ckecking account check. Too much info to be used by scumbags
Hi Dave, I been chased by my frenemy former institution Wild lol Fargo bank, what can I do about it and can you please help me? I tried lots of sources without reconciliation. Take care and thanks!
*Aboot*
I like Dave, but I have a problem with this advice. As a business owner, there is nothing more frustrating than being shortchanged after providing service to the community. This is how you create a debt snowball, when you don’t pay a business, if enough don’t, then the business can’t pay and it spirals out. Not good advice if everyone takes it, we need to look at the aggregate effect.
Well it's a hospital, so they're charging 10x the actual cost and hoping they get back 2-3x the cost from insurance or whoever ends up paying. Trust me, they have collections tables and profitability ratios, they know what they're doing.
@@jgood005 if hospitals would charge a reasonable price for their services more people would pay the bill.
We see statements with $10.00 for 1 asprin, $6.00 for each tongue depresser used & $4.00 for the cheap little box of tissues on the night stand. We become outraged because we all know we can get whole boxes of those 3 items at the dollar store for $3.00 total & know everything else is equally inflated!!!
I know that Dave doesn’t teach using credit and credit scores, but you can request at the time of payoff a letter of deletion in exchange for that final payment. 10 times out of 10 they will provide it because they have no reason to continue reporting it as a bad debt on your credit. At the time of negotiation, request a letter of deletion, they will usually send it within 7 to 10 business days at which you can send to the credit bureaus. Well, I appreciate the sentiment around, not using credit and remaining debt free. There are life situations that require a credit report. If you are debt-free, it is wise to keep a credit score not because you need it but as an option in the event you did. example: apartments or leasing, employment, utilities, now require credit checks, including cell phones, and cable.
Do not give them main access to your bank account.😹😹😹😹
Not here to start any fights. I like DR. I’m trying to somewhat follow him myself. But I am also a medical bill collector. That being said and in my experience, hospitals don’t usually sell debt with a date of service this recent. Why because of possible malpractice? I give discounts when able but more often than not this type of extreme discount isn’t even an option. Trust me it would make my job a lot easier if hospitals would compromise. Also some of the reasons medical debt is so bad is because of the amount of unpaid debts. A lot of hospitals give huge discounts if you’re not insured. Sometimes if you are insured after the adjustment, the remaining balance is your deductible and co insurance. If you don’t pay your deductible and coinsurance the hospital receives zero money for any services you’ve received.
Harley Quinn I agree with you because I am also in medical field. My mother had a big surgery with no insurance and we were able to provide proof of low income to settle it for 7x less amount than the actual bill.
Get a real job!
Angel, I disagree. Doctors & hospitals don't/won't tell a patient what they charge. They all just say, "That's handled by the billing dept. & you'll have to talk to them about your bill." The billing dept. can't tell you what the charges will be until the procedure is done & the coding is finished. It's a catch 22 that leaves the patient holding the bag every time!
Don't believe me? Let me show you the 2k of bills I'm paying off (after insurance paid) for routine yearly exams!!!!!!!!
Why settle the Medical? It's only a year old.Try to give them their money! As someone who is self employeed I hate it when he tells people who owe other people money just throw some money at them, they will take anything.
Adam Bottjen once it’s in collections though the game has completely changed. The original holder of the debt has written it off and sold it for pennies on the dollar. They aren’t involved in the transaction anymore and have made their peace with it. At most this $10,000 was purchased for $1,000. If they can get $2,500 back they made a fine return and everybody wins.
Adam Bottjen medical bills are way overblown as is....they have plenty of room to negotiate ... If it was a car loan or something, then yeah I'd agree with you
benwhitnell I have a question about this. Does this mean that even if I have the ability to pay a medical bill I should just not? I can just wait until the hospital sells it to collections, and settle with collections for like half of it, and basically get out of paying the full bill. Is this a strategy we should use in general? The reason I ask is because i have a 600 dollar bill and I want to pay a little less.
ACR, if the bill goes into collection, your Credit is going to be destroyed... you do not want to do that!!! instead, you can call up the billing department at the Dr. office and attempt to negotiate .... you may or may not have luck...
ACR I mean if you have $600 you should pay it, if you’re concerned about being a functioning member of society you shouldn’t have it sent to collections as a strategy. The long term damage to your ability to participate in the financial system with the rest of us will be significant, doing it over an amount of money that small is really stupid.
But if you get to the point of already having gone to collections? then not settling is stupid. They bought your obligation to pay a dollar for a dime, give them a quarter and everybody wins.
I ask this with respect & genuine curiosity : How is medical debt different from any other debt when it comes to our moral obligation to pay it in its entirety? I’m just not understanding why Dave was coaching Virginia to negotiate her way out of 50-75% of her medical debt. Maybe I’m not looking at this correctly.
Ann Marie Suter In my opinion they're not. Heck I even felt guilty when I consolidated my loans for a lower interest.. Lol. It's all about trial and error with debt collectors. He hates debt collectors more than anyone so he always advices to try to bring them to a lower payment.
Debt collectors make a huge profit on any bill that was taken by said collector. way more than the initial amount owed
Hospitals tend to charge people without insurance more. The "list price" for services isn't what most people actually pay. Insurance companies have negotiated a lower rate for the services already. So if you don't have insurance you are wise to try and negotiate on the back end.
I don't think Dave treating it differently has anything to do with it being medical debt, just the fact that it's in collections.
Medical debt is one of the only debts that you do not know the total ahead of time.
government healthcare , smarten up americans , from your friends in CANADA
@Sheriff Hoyt gas in only 5 dollars a gallon here when you do the math
rayn1ful who are you talking to? My husband who works in Canada in a hospital checking up on doctors and the labs always says when he comes back to New England: "Don't ever move to Canada for medical care. You will DIE waiting for your turn to come up."
@@roxannegordon6162 well i got diagnosed with cancer few years ago and they saved my life
rayn1ful you do realize the only reason Canada, England, Scandinavian countries have socialized medicine is because consumers in the US pay all the R&D costs... your governments force med companies to set pricing and also force them to disclose patents.
@@rayn1ful You can thank America for that considering almost all cancer treatment innovation and research came out of America. Did you get Chemo? Yeah that was invented in America btw...
Dave i don't believe it is right to ask for 25 cents on the dollar to be accepted. She's more than capable of paying it all back with her income. Whatever happened to paying what you owe and never being in debt again? That's someone's money after all. It should be paid back in full plus interest. I borrowed 350k in debt for medical school and I paid it all back within 12 months of graduation plus interest because it's the right thing to do.
Big Vic yeah but if she can get outta paying it then shouldnt she try? Its just a hospital bill anyway, those guys have plenty of money already.
I think it depends. My husband has some huge medical bills (and yes we have insurance that I honestly thought would pay everything) I called to set up payments with one hospital and they told me that if I could pay $500 by the end of the month they would write the other $500 off. After I got it in writing , I took our tax returns and paid them. I thanked them profusely for it and what the rep told me was they do this all the time because it was better for them to get a good amount upfront rather then take $25 a month for years. In my case they offered but it never hurts to ask, they dont have to say yes. If they say no, then you are most assuredly right, you should pay what you owe. Its not right to not pay if you can.
When it's in collections, this means the medical facility already sold the debt off for pennies on the dollar. It's off their hands totally. Most medical facilities charge gigantic markups knowing they can sometimes get it all, and when they don't, they can still settle with an insurance company or collection agency, and make a profit.
If you buy a repo car or forclosed home you don't expect to pay full market value for them. Why pay full market value for a "forclosed" medical bill?
@@EMichaelBall I worked at a place that used a 3rd party collector and it was not sold to them. Payments came to us. The purpose was for the 3rd party to spend time doing all the collection work instead of us. It was not sold for pennies on the dollar. So you don't know that, just because a 3rd party is involved.
"Chased by debt collectors"?? Dave's amaaaazing millennials are a little aggressive with the clickbait
I mean if you were dumb enough to think they were physically chasing her down then you're honestly too stupid to be on the internet or even alive for that matter.
If this fool doesn't believe in credit score, why does he insist on people to pay off their debts? I mean, wouldn't it be better to keep my 50k instead of paying a debt off if I don't need the credit score? It's not like i'm gonna be thrown in jail or anything.
jean lenor his whole idea is to not have a bad credit score. No credit score is different than bad credit score. No credit score would still allow you to go through with things like house purchase but not the same with bad credit score
Josh S Thats very very rare dude. Ive had a lot of collections before and never once got sued.
Creditors dont have time and the means to sue everyone.
jean lenor no its not rare. Anyway no one cares what you think.
I think it has more to do with you pay what you owe because it's the right and ethical thing to do. You may not go to jail but they can always garnish your wages after they sue you and sieze any assets you have.
Would you go to work and your employer not pay you and you think that was okay?
Sure he owes you the money, but wouldn't be better off to keep it since he's not like he's going to go to jail or anything all you're going to do is quit. How about the government keeps your tax refund? Not like you're going to put the government in jail and that money is better there anyway. If the shoe was on the other foot I bet you would see things differently.
jean lenor Dave says it’s okay to have NO credit. Having BAD credit is a completely different thing.
This is stupid advice. Her credit is already ruined from the medical bills. She is better off filing chapter 7 BK. As Dave says you don't need a credit score anyways.
uk wise thats very bad advice. partially settle restarts the bad debt marker. dont apply morals to debt collectors.
Green Bay go packers