Who you, a Guru? After you read these 115 Collection Agency tips, you'll be one. But we're looking to recruit a Guru to blog, write a 101 tip Collection Agency book, and become a leader of this community.
Hot topics for both consumers and webmarketers on WebmasterRadio.FM
Every Wednesday, 4PM Eastern.
October 16, 2009, Newsletter Issue #134: Tips on Hospital Bill Collections
1
Tip of the Week
Hospitals may seek payment according to the guidelines of your specific state laws. Generally, three to 10 years is the timeline in which most states allow hospitals to take legal action. Each state sets a statute of limitations (SOL) according to the type of outstanding debt:
- Oral agreements are undocumented agreements between two or more parties
- Open Accounts – are lines of credit that may be used repeatedly (includes credit cards, home equity lines of credit, department store revolving accounts and others).
- Promissory Note – is written unconditional promise to remit a sum of money
- Written Contracts – are deemed as written credit contracts (in example: car loans and mortgages)
For example, in Nebraska the statute of limitations (SOL) is four years for oral agreements, 5 years for written contracts, six years for promissory notes and four years for open accounts. To determine how long a hospital can collect a bill contact your state's Attorney General's office.
2
About LifeTips
Now one of the top on-line publishers in the world, LifeTips offers
tips to millions of monthly visitors. Our mission mission is to make
your life smarter, better, faster and wiser. Expert writers earn dough
for what they know. And exclusive sponsors in each niche topic help us
make-it-all happen.
Founded in 2000, LifeTips offers fresh tips and advice to millions of readers. Become a Guru on a topic you're an expert in. Become a Sponsor and keep the tips flowing and traffic going to your website!
