Collector - August 2020 - 48

Take (Intensive) Care with Medical Debts
ACA SearchPoint provides information on state laws concerning the statute of limitations and interest laws for medical debts.

T

he necessity of medical care and
large number of consumers who
owe health care debts have led to
voluminous amounts of regulations and
laws devoted to this area of collections.
Statutes of limitations and rates of interest
for medical debts can differ from those of
other types of debts. Therefore, it's important
that debt collectors understand the state laws
concerning the statute of limitations and
interest rates related to medical debts.
Questions often arise regarding how
rates of interest or statutes of limitation

should be applied to medical debts. In
most instances the answer is simple.
Absent statutory guidance, medical debts
will generally fall under a state's written
contract provision regarding interest rates
or statutes of limitation. If the contract is
silent on the issue of interest, one must
look to the state's interest rate for written
contacts to determine what rate of interest
to apply. Likewise, the fact that the debt is
a contractual obligation dictates that the
state's statute of limitations for contracts
will apply.

Debt collectors wanting to know more about
state laws concerning interest and the statute of
limitation regarding medical debts can review
ACA SearchPoint document #1158, Medical
Debts-Statutes of Limitation and Interest.
Have you checked out ACA's member-only
SearchPoint library? ACA SearchPoint is filled
with documents that put important compliance
information related to the FDCPA, FCRA,
TCPA, state laws and many other topics at
your fingertips. To access ACA SearchPoint,
visit acainternational. org/searchpoint.

#BLACKLIVESMATTER
Access Receivables Management is a leader in the accounts receivable management industry. We have been in
business for over 20 years. We serve large enterprise companies, institutions, and governments throughout the
United States for third party debt collection and BPO services. Our workforce reflects America. It is highly diverse.
As a company that has always encouraged inclusion and success based on results and not on any other factor,
we are saddened and outraged at the actions of some that have continued to breed fear and division. WE
STRONGLY SUPPORT THE CURRENT BLACK LIVES MATTER MOVEMENT as it relates to new legislation,
training, and regulations to protect all citizens regardless of race, gender, sexual orientation, and faith. Our
company stands with the African American community at this time and feels compelled to voice our concern and
our support. We also stand with dedicated members of law enforcement at large who work tirelessly every day to
protect and defend our society and truly want change as well.

11350 McCormick Road | EPIII | Suite 800 | Hunt Valley, MD 21301
www.access-receivables.com

48

ACAINTERNATIONAL.ORG


http://acainternational.org/searchpoint http://www.access-receivables.com http://www.ACAINTERNATIONAL.ORG

Collector - August 2020

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