Can a hospital charge interest on a medical bill if not paid of in 3 months? 5 Answers as of September 19, 2013

I called to set up a payment plan where my bill is $2435.30 and the lady on the phone said if I don't have it paid off in 3 months then I will be charged a 4.99% interest rate. Can this happen? I know I am not being charged interest on a medical bill now.

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Mark S Cherry, Attorney at Law, PC
Mark S Cherry, Attorney at Law, PC | Mark Cherry
Pre judgment Interest can be charged if you agreed to it in something you signed.
Answer Applies to: New Jersey
Replied: 9/19/2013
Law Office of Richard Winkler | Richard Winkler
Did you sign something saying you would owe interest if unpaid within 3 months?
Answer Applies to: Rhode Island
Replied: 9/19/2013
Law Office of Stuart M. Nachbar, P.C.
Law Office of Stuart M. Nachbar, P.C. | Stuart M. Nachbar
Yes, they can.
Answer Applies to: New Jersey
Replied: 9/19/2013
Edelman, Combs, Latturner & Goodwin, LLC | Daniel A. Edelman
Yes. Liquidated debts for which no rate of interest is provided bear interest at 5% in Illinois.
Answer Applies to: Illinois
Replied: 9/19/2013
Musilli Brennan Associates PLLC
Musilli Brennan Associates PLLC | John F Brennan
It depends of the services agreement with the hospital or if they have a judgment, which would accrue interest.
Answer Applies to: Michigan
Replied: 9/19/2013
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