When does a company give up or when do you pay??

[Chili]

You sure about this? I'd heard companies were trying to do that but never heard about it making it to an actual law.

It's not a law, per se, they write the debt off (for tax purposes) and stick you with the liability. Generally the only places that do it as a regular course of business are collections agencies, but any business can do it.

[jakesford]

Wow.... At a loss for words there.

I don't think that would be the case here since medical expenses would be deductible. Really you are negotiating a price for services rendered, and only your net cash out of pocket would be deductible on sch A.

I would have to look into this but that is my thought off hand. If they did issue a 1099-C you would want to look into it for sure...

[Chili]

I don't think that would be the case here since medical expenses would be deductible. Really you are negotiating a price for services rendered, and only your net cash out of pocket would be deductible on sch A.

I would have to look into this but that is my thought off hand. If they did issue a 1099-C you would want to look into it for sure...

That's a good point that I didn't think of.

But again, I would just keep that in mind, and make sure to ask them if they will be doing that if you choose to settle.

[Chili]

A quick google search yielded the following:

http://www.businessinsider.com/1099-c-in-the-mail-how-to-avoid-taxes-on-cancelled-debt-2011-3

3. Canceled debt that if paid by a cash basis taxpayer is otherwise deductible

So are "ambulance" services tax deductable? If so it looks like you might be okay.

[YALE]

Fuck auto-withdrawal, in general, but especially so in this case. Don't give them your checking account information. They may have some stupid, "we can modify this as necessary," clause attached to the auto-draft agreement, and decide down the road they aren't happy with your $25/a month and decide to get the full amount from you. Under no circumstances should you give a company you're at odds with your checking and routing numbers, and agree for them to originate a drawing on that account. Hell, if it were me, I'd refuse to pay it whatsoever. I'd offer to give them a charitable donation in a heartbeat, but you refused the service, and they forced it on you. You can't be made to receive medical care in this country (yet). In your case, I'd drag it out, and tell them to get the rest like the red cross.

[Chili]

Fuck auto-withdrawal, in general, but especially so in this case. Don't give them your checking account information. They may have some stupid, "we can modify this as necessary," clause attached to the auto-draft agreement, and decide down the road they aren't happy with your $25/a month and decide to get the full amount from you. Under no circumstances should you give a company you're at odds with your checking and routing numbers, and agree for them to originate a drawing on that account. Hell, if it were me, I'd refuse to pay it whatsoever. I'd offer to give them a charitable donation in a heartbeat, but you refused the service, and they forced it on you. You can't be made to receive medical care in this country (yet). In your case, I'd drag it out, and tell them to get the rest like the red cross.

I'm not 100% on ach, but I know for sure that with "credit" (or debit) cards, once you use that payment method with a "vendor", they can then and forever run that card to cover any additional "debts". Most companies won't do that, but at least per my bank (B of A), they can.

I got burned on that on a vacation that I had scheduled once. I paid an initial deposit and the rest was due 60 days from the travel dates. About 75 days prior I cancelled (verbally and in writing) with the travel agent, which was within the "no penalty" period. But on that 60th day prior, they still hit my account for the remaining balance. I contacted the bank (after the agent) to see if I could dispute the charge and they said I could not. Because I had paid them with my credit card "at some point", that gave them authorization to debit that account again at any time in the future.

I ended up getting a full refund, but had to jump through a number of hoops to get that done.

[YALE]

I'm not 100% on ach, but I know for sure that with "credit" (or debit) cards, once you use that payment method with a "vendor", they can then and forever run that card to cover any additional "debts". Most companies won't do that, but at least per my bank (B of A), they can.

I got burned on that on a vacation that I had scheduled once. I paid an initial deposit and the rest was due 60 days from the travel dates. About 75 days prior I cancelled (verbally and in writing) with the travel agent, which was within the "no penalty" period. But on that 60th day prior, they still hit my account for the remaining balance. I contacted the bank (after the agent) to see if I could dispute the charge and they said I could not. Because I had paid them with my credit card "at some point", that gave them authorization to debit that account again at any time in the future.

I ended up getting a full refund, but had to jump through a number of hoops to get that done.

Shit.

[line-em-up]

shoulda voted for barry

That way, he could pay the $15,000 deductible on what he owes, then another $800 a year for the rest of his life. Or, even better, they decide that he isn't worth keeping and just give him aspirin to kill the pain until he keels over. Sure. That sounds like a good deal to me.

[Treybiz]

Yes on the 1099

I hired a guy as an agent, we fronted him $8500 to set up his office and in this case I think it was to pay green fees ..since he never did spit.

I tried to get him to refund, gave up ,called uncle and he got 1099.

Called me, told him to contact his tax attorney ..

A friend had a accident, no insurance or not enough can't remember which

He did the settle thing , seems they offer that near years end .

He paid , then got a bill from collections on the balance, they didn't play as nice ..he got taken to court, lost ..had to cough up balance fast



My take, its your debt, you incurred it .. pay it ..

why is that debt any different than anything else ?

To me it's different because I didn't choose it. But, I understand a case could be made that other debts aren't "chosen". Also, I'm paying it and have no intention of stopping was just curious what other people thought about my situation.

[Treybiz]

Damn. Drop off a sack of pennies every month? ;-)

Na,

The accounting ladies are always nice. The CFO was the only one so far that struck me as a cunt. She had an attitude when I was looking into their "grant" program.

[Treybiz]

shoulda voted for barry

Totally.

[talisman]

To me it's different because I didn't choose it. But, I understand a case could be made that other debts aren't "chosen". Also, I'm paying it and have no intention of stopping was just curious what other people thought about my situation.

Don't forget everyone on here has an 850 credit score, 2 Lambo's and a cowskin rug. It always makes me shake my head watching people interject morality into business, which is for the most part amoral.

[2011GT]

No wonder why the US has a health crisis. Pay your fucking bills and be glad you're still alive.

[STANGGT40]

Hell, drop it down to $10 per month, then see what they'll settle for! . I'm sure there are plenty of ways to justify the cost, but unless they took you on a scenic tour around the US, $14k seems a tad outrageous!

[racrguy]

Hell, drop it down to $10 per month, then see what they'll settle for! . I'm sure there are plenty of ways to justify the cost, but unless they took you on a scenic tour around the US, $14k seems a tad outrageous!

Shit, I had an ambulance ride to the hospital after a racing accident where the EMT only gave me some morphine a started an IV and I got a bill for 4k. The ER visit was only $500.