Thank you for your comments. For clarity, ClearBalance doesn't pay the healthcare provider pennies on the dollar. The ClearBalance program is a benefit offered by the healthcare provider to their patients (you can pay your bill over time with no interest rate charge).
Lastly, the ClearBalance program is is not part of a "CA", but is offered via a bank. The program has been utilized by healthsystems and their patients for over 25 years and is very well received (patients in all 50 states have utilized this service).
Please let me know if you have additional questions.
In other words the hospital sells them your account for pennies on the dollar and you pay this (so-called?) "bank" the full balance. I would advise anyone with these types of bills to negotiate a deal directly with the provider at "pennies on the dollar" before they sell your account to someone else who expects the account to be PIF. I know nothing about this "bank" but they smell an awful lot like a CA to me. I'd try negotiating with them to lower your balance owed at the very least. Just my 2¢. I could be wrong, I frequently am. Best of luck to you and if you do have any success in negotiating please bring it back to this thread for the rest of us.
We frequently hear your comment "it seems too good to be true"
I am very happy to learn that you had a postive experience with the ClearBalance program. Be sure to thank your healthcare provider for making this program available to you and their other patients.
If there is anything else we can do for you please let us know.
I have just started with ClearBalance and it looks to be a good deal...my question is how do I add future hosipital bills and at some point can I add more months to pay?
Thank you for your question regarding interest rates charged to the consumer. First, you are correct that ClearBalance does not report derogatory information to credit bureaus. Second, that vast majority (over 90%) of our loans have no interest rate charged to the consumer. And, there are no punitive rates or fees if you make a late payment.
Please let me know if you have any other questons.