Blog
Law Offices of Chance M. McGhee

Call Today for a FREE Consultation

210-342-3400

Subscribe to this list via RSS Blog posts tagged in secured loans

Posted on in medical debt

Borrowing to pay medical debts creates new potential risks. A debt that was easy to discharge in bankruptcy becomes one that you often can’t. 

About one-fourth (26%) of American adults (18-64 years old) reported that they or someone in their household had problems paying medical bills during the previous year. This is according to a 2016 survey by the highly reputable Kaiser Family Foundation, The Burden of Medical Debt. Not surprisingly, more than half of people who did not have health insurance reported such problems. However, more than one-fifth of people who had health insurance still had trouble paying medical bills. So if your medical bills are a challenge for you, you are clearly not alone.

You may have options short of borrowing money to pay off the medical debts. It’s worth contacting the medical creditor—as early as possible—to find out their payment alternatives. Sometimes interest-free repayment plans are available. In some situations, medical providers are willing to negotiate a settlement with you reducing the balance. Especially if you are uninsured, you might even qualify for financial assistance.

...

Call Today for a FREE Consultation

210-342-3400

Facebook YouTube Blog
Back to Top