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Your Debt Collection RightsYou may owe a debt, but you still have rights. And debt collectors have to obey the law.If You Owe MoneyCreditors don't want to bring in a debt collection agency. But if it looks like you won't pay, they will. The creditor will sell your debt to a collection agency for less than face value, and the collection agency will then try to collect the full debt from you. If you owe a debt, act quickly — preferably before it's sent to a collection agency. Contact your creditor, explain your situation and try to create a payment plan. Usually, creditors will help you catch up. What Debt Collectors Can’t DoDebt collectors are regulated by the Texas Debt Collection Act. Among other things, the Act prohibits debt collectors from: Using abusive collection tactics, including:
Using fraudulent collection tactics, including:
Violators of the Texas Debt Collection Act are subject to criminal and civil penalties. If you think you have been harassed or deceived, you can even seek injunctions and damages against debt collectors. These actions are also violations of the Texas Deceptive Trade Practices/Consumer Protection Act, which gives the Attorney General the authority to take action in the public interest. File a Complaint If You Dispute a DebtIf you dispute the legitimacy of something in your debt collector's file, you must give the collector written notice. Simply calling the collector won't cease collection activities. If possible, send your dispute letter by certified mail (with "return receipt requested") so you know it was officially received by the collector. The collector then has 30 days to determine whether or not the disputed item is correct. If the disputed item is correct... If the disputed item is incorrect... Debt Collectors Can’t Take Your Home or Your WagesIn Texas, if your residence has been declared a homestead, it cannot be taken to pay a debt—except for debts taken for the purchase of the home (i.e., mortgage in default), for home improvements, for home equity loans or to pay certain taxes.
Wages may be garnished only to pay debts related to court-ordered child support, back taxes, and defaulted student loans. Debt collectors cannot garnish wages for repayment of consumer debt. If a debt collector threatens to take your home or garnish your wages, you may be the victim of a debt collection scam. File a complaint with us immediately.
Fair Debt Collection Practices ActThis federal law applies only to collectors working for professional debt collection agencies and attorneys hired to collect a debt. It is similar to Texas law, but also prohibits:
If you are being subjected to harassing, abusive, or fraudulent debt collection tactics by professional debt collectors — and you want to stop further contact with you — notify the collector in writing. Keep a copy of your letter and send the original to the debt collector by certified mail. What is money owed to the medical practice for services provided?Accounts receivable or A/R is a term used to denote money owed to your practice for services you have rendered and billed. Any payments due from patients, payers, or other guarantors are considered A/R.
What describes amounts that are owed to a medical practice?Days in accounts receivable (A/R) is an industry standard for measuring how many days amounts owed to the practice by insurance payers, patients, and third parties will take to be paid.
What is the amount of money owed by a patient for health care services called?A balance bill is issued when a provider charges a patient with the amount the insurance company doesn't pay. For example, the dermatologist charges the insurance company $300. The insurance company agreed to pay $150.
Which financial term represents the amount owed to the provider for services rendered?Accounts payable is the money a company owes its vendors, while accounts receivable is the money that is owed to the company, typically by customers. When one company transacts with another on credit, one will record an entry to accounts payable on their books while the other records an entry to accounts receivable.
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