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Have you been overwhelmed with medical debt? Are you struggling to make payments? Do you feel like no matter what you do, it’s hard to make a dent? The good news is that medical debt relief is attainable. In this post, we’ll give you information and tips for resolving your medical debt so that you can get back to living a healthy financial life.

What is medical debt? 

Medical debt is the debt a person owes for medical care, and it can result from hospital bills, doctor visits, drugs prescribed by doctors, and other healthcare treatments. It’s typically paid through personal loans or consumer credit.

How do I get help with my medical bills?

The easiest way to get help with your medical debt is to contact a debt-relief company. These companies specialize in helping people who are struggling to keep up with their bills. Reputable debt-relief companies could help resolve your debt in as little as 24-36 months.

How can I pay off my medical bills?

The first step in paying off your medical bills is to make a list of priorities and deadlines. One practical way to pay off your medical debt is known as “the snowball method.” Traditionally, with this method, every dollar that comes in goes toward paying down your smallest accounts first, and as you pay off each account, you roll the funds from those payments into the next smallest account until all debts are paid. 

With this approach in mind, you would focus your efforts on paying medical debt first—before anything else is paid. If you need help making a plan, we recommend reaching out to a certified debt consultant.

Medical credit cards

Medical credit cards can be used to help you pay down your medical debt. They can also be used to purchase prescription medication or other medical supplies that aren’t covered by insurance. While these can help pay for your medical expenses, you should know that most medical credit cards have a high interest rate. 

Medical bill advocate

A medical bill advocate is a qualified professional who will represent you in negotiations with medical providers. They can help you significantly reduce your medical bills by reviewing them for things like overcharges, inaccuracies, and insurance mistakes. They can also negotiate with medical providers for discounts and help establish a repayment plan. 

Some medical bill advocates charge an hourly or monthly fee while others charge a percentage of what they help you save. Before working with a medical bill advocate it’s important you find out how they will be paid. Additionally, medical bill advocates can specialize in different types of medical debt, so it’s important to make sure that whoever you’re working with can help with your specific situation.

Income-driven hardship plan

An income-driven hardship plan is a type of repayment plan in which the amount you have to pay each month is based on your income level. That means, of course, it will be different for every person. To qualify for this type of plan, you must show that you cannot afford to pay your current monthly minimum.

An example of this might be someone who makes $400 per month but has medical bills adding up to more than $1,200, every single month. If they were on an income-driven hardship plan, they’d have to repay just a portion of their medical debt every month—and that amount would be based on their annual income.

This type of repayment plan can be beneficial for people struggling to get by financially and hoping to take care of their debts. There’s no need to feel ashamed about your situation; you need a way out that will work for you. 

If you’re feeling overwhelmed by debt and not sure which option is best for you, we recommend contacting a certified debt consultant who can provide a free evaluation of your situation and recommend a debt-relief solution that works for you. 

Can I negotiate my medical costs on my own?

While it is possible to negotiate with your hospital to reduce what you owe them, it can be a challenging and time-consuming effort. We recommend working with a debt settlement company who can use their experience to help reduce what you owe. When you negotiate directly with the hospital, you may have to provide proof that the original amount is unaffordable or jump through other hurdles before getting your debt reduced. A debt settlement company has leverage with creditors because they are not just negotiating on what you owe, but are negotiating the debts of any individual who is working through their company. This means they can typically deliver better savings and quicker turnaround than if you were to negotiate on your own. 

How Can CreditAssociates Help?

CreditAssociates can help you with our time-tested debt settlement program. This is a valuable program for people who want to reducing their medical debt but are struggling to pay back what they owe. Our team of experts will negotiate with creditors on your behalf to reduce the amount you owe, equipping you to become debt-free quicker and for less. Medical bills can be confusing and frustrating, but our certified debt consultants could help you find a way to resolve these debts in as little as 24–36 months.

Common Medical Debt Relief Questions: 

How can I get my medical bills forgiven?

Unfortunately, having your bills completely forgiven is not likely possible. We recommend working with a debt settlement company to help reduce the total amount you owe for those medical bills. 

What happens if I can’t pay my medical bills?

If paying off your medical bills is overwhelming or unrealistic, you can look into a debt settlement program to help you. CreditAssociates may be able to help reduce your medical bills by up to half or more, and help you be debt-free in as little as 24–36 months. 

Do medical bills go away after seven years?

The statute of limitations for outstanding debt varies by state. So, if you have unpaid medical bills from more than seven years ago, there is a chance they may no longer be legally collectible, meaning creditors cannot sue you or force you into a payment arrangement, depending on where you live. We recommend contacting a certified debt consultant for a free debt evaluation so they can help determine the best way to handle outstanding medical debt.

Do hospitals write off unpaid medical bills?

Hospitals often encounter unpaid medical bills. When they do, they generally charge the patients interest for those unpaid bills. However, some hospitals will write off a due statement if it’s under a certain amount—usually $250–500. They cannot do this indefinitely, though, because eventually they must collect their money in order to stay in business. This is also not true for every hospital or every case.

Can hospital bills ruin my credit?

Unpaid hospital bills can damage your credit score. They remain on your credit report for years and can impact your ability to make large purchases where a loan of some type is required.

Is medical debt consolidation right for me?

Medical debt can be very complicated, and each person’s situation will vary. There are many factors to consider when deciding if a consolidation program would work for you, so we recommend reaching out to a certified debt consultant to help find the best path for you toward financial freedom.