Chapter 5: Skipss, Bankruptcy and Estate Claims Flashcards
What is a Skip?
An individual with an unpaid balance who has moved with no forwarding address.
what does Skip trace software searches?
Credit reports, social media, job search engines, public records and other sites.
Why does Skip trace software searches all that?
To locate someone who has purposely disappeared to avoid financial responsibilities.
A patient declaring bankruptcy usually does so under what?
Chapter 7 or Chapter 13 bankruptcy laws.
In chapter 7, what does the patient has to do?
Sell many of their assets to pay.
In chapter 13, what does the patient has to do?
Keep their assets but must repair debts over a specifies period of time.
What happens when a patient has died?
Medical office must direct the fees to the executor of the patient’s estate.
What does the provider should do when the patient is deceased?
Prepare an itemized statement.
What would be the next step after a prepare an itemized statement?
Send information via certified mail with a return receipt to the “Estate of (name of patien)” at the patient’s last known address.
To be respectful the office should no send the statement in?
The first few weeks or after death.
For an executor, medical bills are often propriety so what will happen if there are sufficient assets in the estate?
The provider will often receive money to satisfy the debt.
