People get into debt for a variety of reasons, one of them being the inability to pay for their medical bills. These bills may come from regular check-ups to emergency room visits, and the costs can quickly add up. It’s a problem that devastates many households each year and according to a 2013 study, it’s also the number one cause of bankruptcy.
Medical bills already have a reputation for being complicated, but if you suspect there is an error on a charge, make sure to discuss it with your service provider. Another option to resolve your medical debt may be to work with a consumer advocate company that won’t charge any upfront fees, meaning you won’t pay them anything unless they are able to resolve your bill.
If you are one of the millions of people who are struggling to pay your medical bills, take the necessary steps to reduce or manage medical debt.
1) Find out if you qualify for Medicaid.
Medicaid is a form of health insurance for low-income individuals who aren’t able to afford their medical expenses. Since the criteria varies by state, check with your local Medicaid office to see if you qualify. If you do, Medicaid may be able to help pay for some of your medical bills (within a specific time frame), so make sure to apply as soon as possible.
2) Apply for financial aid.
Reach out to local churches, social groups, and community-based organizations like the Salvation Army and United Way that may offer help. They may be able to provide you with the financial assistance you need.
3) Make payment arrangements.
Medical debt is an unsecured debt, except in this case, you owe money to your medical creditors. Just like any other type of unsecured consumer debt, unpaid medical debt has the potential to hurt your credit. The last thing you want to do is ignore it. If you haven’t been able to pay your bills in full, contact your doctor’s office and insurance company (if applicable) to try to work out a payment plan. That way, they know you are trying to be proactive about the situation.
4) Get professional help.
If you can’t make any progress with the service providers on your own, you may want to consider working with a reputable debt relief company that may be able to negotiate on your behalf and help you resolve the debt for less than what you owe. Freedom Debt Relief has a team of caring professionals who are experienced with negotiating with your creditors. Again, make sure to choose a company that doesn’t charge upfront fees, because you shouldn’t have to pay a dime unless they are able to get you results!
5) File for bankruptcy.
In the absence of another solution, bankruptcy is an option some people are forced to take. It’s a reasonable solution when facing overwhelming medical debt.
Medical debt is unique because it is often a product of an unforeseen illness or accident. It can add up quickly and unexpectedly, all while intensifying the medical problems that caused it in the first place.
If you need personalized assistance with resolving your debt or would simply like more information, Freedom Debt Relief is here to help you find a solution for dealing with your debt. Give us a call today at 1(800) 544-7211.
Until Next Time,
The Freedom Family