I have always heard it in movies but they move on too fast for me to process it.
In: Other
When discounts happen, you’re paying a fraction of what its worth. If something cost $10 and you paid $2 for it, you literally paid pennies on the dollar for it (20 per dollar that is).
Most medical debt is like this – if someone owes a medical facility $1000 bill, and its written off and bought by a scummy credit collections company (not the same as a collections group within the medical practice) they might pay $75 for it and then they can try and collect on it (hence they are paying 7.5 pennies per dollar of debt owed). Then they try and go after you for the $1000 or any portion of it over the $75 they paid for it. Which btw – is total BS as most places that buy this medical debt are not really entitled to it as they typically don’t have enough proof as being NOT the end customer you owed. But that’s a whole different story.
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