Frequently Asked Questions
Question
What if a 3rd party payer (i.e. insurance company or Medicare) is supposed to be paying for a bill and they either have not paid at all, or not as much as I thought they would? Who is responsible for the bill?
Answer
The question of responsibility always lies with the patient/guarantor. That is because the actual service was performed for the patient/guarantor. But, that does not mean your insurance company is not supposed to pay the bill. The question is regarding who is ultimately responsible for the bill. Making sure the creditor has the correct information to submit to a 3rd party payer, following up with a 3rd party payer in the claims processing procedure, and checking back with the creditor to be sure they are ultimately paid by the 3rd party payer, are all the responsibility of the patient/guarantor.
Question
How long does an account stay on your credit file?
Answer
Generally 7 years. The account remains even if the account is paid in full. When an account is listed at Oliver Adjustment and it is not paid in full, it will most likely end up on your credit file. Oliver Adjustment reports its accounts in ‘batches’ to the credit bureau on a monthly basis, so any account that has been listed with us for at least 35 to 60 days, and has a balance, goes to the credit bureau as a collection.
Question
What can I expect if I need to call Oliver Adjustment Company about my bill?
Answer
If you speak to one of our collection specialists, you should know that you can expect courtesy and professionalism in every call. Our collection specialists are trained to both answer your questions and assess your financial situation so they can assist you in coming up with the best solution to pay your debt. They may ask you a lot of questions, but don’t be nervous, they are just trying to help you come up with the best possible solution. Any questions asked about you or your financial situation are to help asses your ability to pay. Questions about dates of birth and social security numbers are asked so that we are sure we have the correct party (important in accurate credit reporting). Questions about your address and phone number are important so that we have the correct information to contact you regarding your bill.
Question
Can a judgment be entered against me if I am making payments on an account?
Answer
Yes it can. Making payments on an account does not bar any type of legal action against you, although Oliver Adjustment is happy to help you make a payment arrangement that will help prevent legal action. You have to remember that in actuality your account is due in full the day the debt is created. The fact that Oliver Adjustment Company or your creditor agrees to let you make payments on a past due account is an agreement that has to be entered into by both parties (yourself and your creditor or Oliver Adjustment Company).
Question
Did Oliver Adjustment Company buy my account?
Answer
No. While the ‘debt-buying’ industry continues to grow in the U.S., we do not participate in the debt buying industry.Our client (your creditor) still ‘owns’ the account.
Question
What if I get a notice that my bill has been listed with Oliver Adjustment and I dispute the bill?
Answer
Contact Oliver Adjustment as soon as possible. Discuss your dispute with us. According to the Fair Debt Collection Practices Act (FDCPA), a consumer has 30 days from the date they receive an initial or first notice from a collection agency indicating that they have a debt that has been listed there. This 30 day period is the ‘validation period’ and is to be used by the consumer as a time to dispute the validity of the debt or request further information regarding the debt (an invoice or statement). The validation period is also a great time to look over your financial resources so that you can pay a debt ‘in full’ before it has a chance to go on your credit file.
Question
What if my spouse and I are divorced? We have a divorce decree that states that they are 100% responsible for all medical bills. Why am I being billed?
Answer
One thing to remember is that a divorce decree is a ‘contract’ as it were, between yourself, your spouse, and the judge or court official that presided over your case. Generally, creditors are not ‘parties’ to a divorce decree as you, your spouse, and the court official are. That being said, creditors do not have to honor a divorce decree, but they do understand the situation it puts you in. At Oliver Adjustment, we suggest that you pay the bill and try to get your spouse to repay you to the amount that would honor your divorce decree. If a spouse won’t repay you, a divorce decree is a court instrument that a spouse can be held in contempt of if not honored.
Question
I had numerous debts and ended up filing Chapter 7 bankruptcy. My credit report shows that I still have open judgments against myself that should have been included in the bankruptcy. How can I get the judgments included?
Answer
If you have an open credit account on your credit report that should have been included in a bankruptcy, that creditor is most likely not aware of the bankruptcy filing. They can be notified by yourself or your bankruptcy attorney. You will most likely be asked to send a copy of the bankruptcy filing and discharge. In Wisconsin, to remedy a judgment on your credit file that should have been included in a bankruptcy filing, have your bankruptcy attorney request the sitting judge in the county in which the judgment was filed to release the lien or judgment that was filed against you. This is generally done with a written request from your bankruptcy attorney.
Question
What if my medical bill has been listed with Oliver Adjustment and I know there was an error with the insurance company in processing the claim? What should I do?
Answer
Gather your insurance information such as insurance cards and EOB’s (estimation of benefits) you may have received, and call Oliver Adjustment. We will be glad to discuss your bill with you and and obtain your 3rd party payer information. Once we have all the necessary information we will contact the original creditor with the information you provide to us and if there are any questions that your creditor has we will contact you.
Question
What is the best way keep an account off of my credit file?
Answer
The best way to keep an account off of your credit file is to not let it get there in the first place.
- Try for a loan (refinance a home or consolidation loan)
- Use a credit card or extend the limit on your existing credit card
- Borrow from a family member or friend
- Create another income source (overtime hours at work or PT/seasonal job). Often times the ‘cost’ of preventing an account from ending up on your credit file is far less than the long term consequences of an account on your credit file.
Question
What should I do if I get a notice from Oliver Adjustment that an account of mine has been listed there?
Answer
The best thing you can do is to take an assessment of your financial situation, (include your spouse or significant other if possible), then contact Oliver Adjustment as soon as possible. We are interested in helping you and our client (your creditor) resolve the account. If you are willing to communicate your situations to us, it is at this time that you are most likely to achieve a very amicable payment plan or gain information that may help you pay the bill in full. If Oliver Adjustment Company attempts to contact you and cannot reach you or you ignore our requests by mail, we can only assume that your intention is to not pay the bill. This behavior often leads to lawsuits, garnishments, added expense, and inconvenience for all the parties involved.
Question
What if I am making ‘some’ payment to the client, can they still turn my account over to Oliver Adjustment Company?
Answer
Yes. Any payment you send would be applied to the balance of your account (whether at Oliver Adjustment Company or the original creditor). If it is not a payment arrangement that was agreed upon by both parties (yourself and your creditor), your creditor has the right to turn over an account to Oliver Adjustment Company. If you have multiple accounts, be sure your payment is going to the correct account. You may have a current account (an account still at the creditor) and a past due account (an account listed at Oliver Adjustment Company).
Question
Can Oliver Adjustment Company remove an account from my credit file?
Answer
Does Oliver Adjustment Company have the ability to remove an account from a consumers credit file? Yes. Will we? Generally, no. Per the Fair and Accurate Credit Transaction Act of 2003 (FACT Act), Congress further required all data furnishers to be even more accurate in what gets reported to a consumers credit file. The Act requires data furnishers to report what is ‘true and accurate.’ So if a credit grantor tells you to call Oliver Adjustment Company and ask to have the account removed, most likely the answer you will get is a ‘we are not able to do that, we have to report what is true and accurate.’ Reporting accuarcy when an account is paid does not constitute it be removed. If there is an error in the reporting of the account such as not showing paid give us a call and we will notify the credit bureau you received the information from to request they update their file to paid. Data furnishers have the ability to remove accounts or amend credit files to correct any mistakes that may have been made in placing the account in the first place.
