Nearly One in Five Americans Have Unpaid Medical Debt, Study Finds How To Pay It Off

GET DEBT FREE

By clicking on Click here to get help now!, I agree to the Terms of Use, Privacy Policy and ESIGN Consent

Unanticipated hospital stays can lead to uncontrollable medical costs and even bankruptcy.

A study by the American Medical Association found that 18% of Americans are in debt.

These are just a few of the emotions Americans feel when they visit a doctor in America. There are many types of medical treatment.

If you are having difficulty paying your bills, there are many options. These options include consolidating your debt with a personal loan and negotiating your account.

Credible lets you search for financial products that offer the highest interest rates.

You can negotiate the balance of your medical expenses.

Healthcare costs may vary depending on your circumstances.

Here are some things you can do to prepare for negotiations regarding medical bills:

  • Check your invoice for errors. Insurance companies may refuse to pay a claim that they were responsible.
  • Compare prices for the same service. Visit The Healthcare Bluebook to see how you can compare costs.
  • Describe why you need help. A medical billing office might be more open for negotiations.

Determine if financial aid is available to you by checking your household income.

Get rid of your medical debt with a personal loan.

Collection agencies may place unpaid medical bills on your credit reports. This could adversely affect your credit score and even send collectors to you.

Personal loans are lump-sum loans, which are paid out monthly. Personal loans are lump-sum loans that can last for several years. They can be repaid monthly to help you quickly pay off any outstanding medical bills.

Unsecured personal loans do not require collateral and can be used for any debt. It is important to compare rates between different lenders.

Credible lets you see personal loan rates estimates without affecting your credit score.

Apply for a medical credit card or a 0% APR credit card.

Because of the high interest rates, you should not use a card to pay medical bills.

You might consider opening a line of credit with no interest to settle your medical debt. FICO defines this score as 670 or higher.

Credible is an online marketplace where you can search for credit card options.

ALL CREDIT OFFICES EXTEND FREE RELEASES

Are you unsure who to contact if you have a financial query? Email the Credible Money Expert at moneyexpert@credible.com, and Credible could answer your question in our Money Expert column.

Comments are closed.

Debt Consolidation

Consolidationnow