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Plan #3: Medical Bills

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I renewed my debt payment plan with a series of small baby steps this fall. My next plan is to tackle some recent medical bills. You can see my first baby steps here:

Plan #1: Pay Off Debt

Plan #2: Change to My Savings

With the new year, I’m ready to implement some new plans, ie baby steps. Over the last few months, I’ve had some “could have been serious” medical issues which results in visits to a Neurologist and then some testing.  While I had some money left in my FSA account for 2017, there wasn’t enough to cover everything.

Questions

I chose to max out my FSA again in 2018, which is $2550. Can I use this year’s monies to pay last years bills?

I know I have through March, 2018 to file claims for last year, but can I use money I will be putting in this year to pay for them?  I’ll be calling my FSA provider this week to get the answer for sure, but maybe someone else is dealing with this as well?

The Plan

Once I get the answer to that, I will make a decision about dealing with these medical bills.  I know I can call and get a payment plan with no fees or interest, but frankly, I want to cut back my monthly obligations. I’m hoping I can use this year’s FSA money to pay the approx. $1500 in bills and be done with it.

Dealing with the medical bills is Plan #3 for now.  I’ve got a couple of other things going on that I will bring up over the next couple of weeks.


Update to Plan #1: Pay Off Debt

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At the end of October, I revealed my initial plan to pay off debt after being so focused on saving since I started my new job this past March. It had been a long time since I could focus on that goal with so much of my energy focused on keeping us housed and fed during the time I was unemployed or at least under employed. This plan had three goals:

  • Pay off my Amazon line of credit
  • Pay off my computer line of credit
  • Settle one of my collections accounts (the largest one at the time)

Dec 1 Status Update

Amazon – As of Nov 1, I paid off the Amazon account and have not used it since.  Doing a happy dance for debt pay off and celebrating self control!

Computers – I have continued to pay the minimum due on most of my bills and we have focused on not spending unless it is a need (with the exception of our Thanksgiving trip to Orlando) and as a result, I believe I will be able to pay off this debt in whole the week after Christmas.  I will make my end of the year goal by the skin of my teeth, barring any emergencies. I will pay off this debt! I will keep you posted.

Collections – I made the call to this account to discuss a settlement or pay to remove situation and they were not willing to negotiate much. I got angry and hung up.  And to be honest, with the goal of paying off the computers, I am not sure I could have done this too.  BUT…the other collection account (several smaller bills held by one company) is willing to negotiate and remove the items from my credit report once paid.

Making Money

I mentioned recently about my W2 employer’s “notice of firing” for lack of a better description. I could write a really long rant on that situation, but I am controlling myself. Anyways, I have been applying for jobs like a mad person and spending a lot of time looking for freelance work as well.  I am happy to update that I have had several nibbles at freelance work, good work. I am in the middle of the interview process with several companies and am doing some introductory work for a couple as well.  I feel good, at least better, about the situation.

With that being said, if I can bring in some extra money in December my goal is to tackle goal #3 with the collection account, just not the one I originally planned.  With that being the goal and I’m hopeful I will be able to make it happen. I guess it’s time for me to come up with my next steps in my paying off debt plan!

I’ll get a debt update posted in the next week or so. In the meantime, I’d love to hear your suggestions on what my next goals should be.  I won’t be able to focus on anything else until the new year and will have to temper that with what my job situation is looking like, but right now, today, I’m hopeful and proud of the steps I am taking.

P.s. If you’re a ton of debt, some people have had good results with balance transfers.  One company that you might consider checking out is Credit Soup.  They have a wide rage of options for folks every credit score and financial situation.

 


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