Five Tips For Help With Medical Debt - By: Charlie Jones Jr

According to bankruptcy statistics, medical debt is one of the leading causes, the only cause that is greater is loss of a job. Don't become a statistic and let medical debt get the best of you, make sure you understand all your options. One thing people Below are some guidelines which can help you find the best solution for handling your medical debt instead of filing for bankruptcy.

Don't be pressured into transferring medical bills owed to a credit card

Avoid moving any medical debt you have to a credit card. Moving the medical debt to a credit card is not a good decision because usually the interest you will incur will raise your total debt amount much faster. Also, if you transfer your balance to a credit card, this usually reduces your chance of receiving Medicaid if you choose to apply. Medicaid eligibility is mainly determined by your gross income. With this in mind, know that medical debt lowers gross income while credit card debt doesn't.

Be sure to stay on top of your bills

Second, be proactive with your medical bills. Missed or late payments will just create additional penalties and interest to add to the total amount owed

Try to negotiate if you cannot pay

Can't pay the bills? Call the doctor's office or the hospital and ask for a reduction of bill or payment plan. Know that they would much rather negotiate with you and have you make payments or pay less instead of you going bankrupt and not receive no money. If you feel more comfortable, have a debt settlement or credit counseling company do this for you. These companies are experts in negotiating with creditors (hospitals, third party billing agencies, collection agencies etc) to either help you get a more reasonable payment plan and even sometimes negotiate your total medical debt to a lower balance amount.

Look to charity organizations for assistance

By doing a simple search online, you can most likely find many nonprofit organizations, churches, or community organizations that might be willing to help you with your medical debt. Most organizations are more willing to help those that are extremely in need and have exhausted all other options.

See if you Qualify for Medicaid

Try applying for Medicaid. Medicaid is a state funded program that assists many individuals in financial need. All 50 stats offer Medicaid, but since it is a state sponsored program the requirements for each state vary. Research your state's requirements for Medicaid and see if it would be worth you applying. Depending on which state you are in, past outstanding bills can be covered fully or partially covered.

About the Author

If you need help with Resolving Medical Bills , MedicalDebtHelp.com can help. More information on http://www.medicaldebthelp.com/Medical_Debt_Medical_Bill_Options.html" target="_blank">Unpaid Medical Bills

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