Medical Debt Relief

Medical Debt Relief

medical debt and credit card debt advice

Tips to Eliminate Medical Debt

Medical debt presents a matter of serious concern in United States when the cost of health care creates too heavy a burden for a person's pocket. If you count yourself among the lucky few subscribing to reliable medical insurance plans, you remain safe from the rocketing bills. Consumers need not undergo a major surgery to incur significant medical debts. Sometimes minor health issues involving scans, exams, check-ups and surgery end up building into large medical debts.

In such circumstances you need to remain calm and handle the problems in a systematic way to achieve medical debt relief. Should you consider a debt settlement attorney or opt for a debt settlement firm to eradicate your swelling medical debts? Below find a few tips that will help you to wipe out your medical debts easily:

  • Maintaining health insurance will cover the expenses of most of your expensive health issues. When you face an accident or any emergency crops up you can fall back on your insurance plans to cover your medical expenses. While these plans might seem expensive, spending the money certainly qualifies as smart financial planning for emergencies.
  • Sometimes not checking the documents carefully can pile up your debts further. Insurance companies can also make errors while submitting documents. You should therefore double check your debts and records before submitting your medical debts document to the financial department.
  • You can qualify for 100% elimination of medical bills if your annual income does not exceed 200% of the federal poverty level. If your income exceeds the limits that are specified, you can qualify for a reduced financial aid. Look into Medicaid or similar medical programs for people without the income to afford the full medical bills in your state. Try to research and enroll prior to incurring the medical bills when you can.
  • Try to get a copy of your credit report from all the credit bureaus namely Experian, Equifax and TransUnion. If there are any mistakes on your credit report related to medical debts get them removed immediately.
  • Make a budget for your household. List down your income and expenditures. Also try to find out means through which you can increase your income and reduce your other expenses. Try to supplement it through additional income sources so that you can deal with emergency medical situations.
  • You can ask for medical debt relief from the hospital's financial aid department. But you can only do so when all other available resources are exhausted. If you have any medical insurance, you need to utilize it. You can also apply for and use any other public medical benefits to get rid of your debts. If there are still medical bills left after all your resources are exhausted, the hospital's financial aid department is likely to help you out with your debts.
  • As a last resort remember that medical debt receives the same treatment under the law as does credit card debt so you may attempt an unsecured debt relief or even a chapter 13 bankruptcy or chapter 7 bankruptcy. To explore which solution for unsecured debt fits your personal financial situation utilize our Debt Advice Free online program.