Question by  GerriRussell (23)

Is it legal for medical bills to accrue interest?

I have a lot of medical bills and cannot pay them all at once.


Answer by  epglaw (553)

Yes. The new patient information form completed at the office of the physician can include a clause in it which requires the patient to pay interest on unpaid medical bills, which are not covered under insurance or the balance of medical bills after payment from the insurance company is received.


Answer by  JFH (25)

You should find out if a financial responsibilities statement was signed at the time you received medical treatment. This contract provides the terms and conditions for payment of medical services provided and will explain at what rate, if any, interest may accrue on a balance owed.


Answer by  Rathjinngmailcom (234)

Statutory Interest on medical bills is legal and is often listed as a legal fee. You can often call and negotiate to recieve a lower interest rate or make payment arrangements.


Answer by  nasemcsc (36)

Yes, it is legal. Once the creditor gets a judgment against the debtor in court, there are court ordered interest rates for judgments and they vary from year to year.


Answer by  notenoughfacts (257)

According to most, interest is not charged until after a debtor gets a judgment and interest can accrue on the judgment until paid.

You have 50 words left!