Solutions to deal with medical debt

Health workers

There are hundreds of thousands of people that have no health insurance. Those without health insurance can encounter thousands of dollars in medical debt if they are diagnosed with an illness or require extensive medical testing. Even routine tests can cost upwards of several thousands of dollars and an accident has been known to disable the income of a family – leading to bankruptcy and many other financial hardships. Rest assured, there is light at the end of the tunnel of medical debt. Solutions are available in your own home, through the advice of experts and even organizations available to assist consumers facing unmanageable medical debt.

Finance the Debt

First, determine if the medical debt can be deferred or a finance plan can be established through the company that has provided the services. These monthly payments can be made manageable. When speaking to the medical billing office it is important to emphasize that you are unable to pay the amount in full but would be more than willing to work out a monthly payment plan that would appease everyone involved in the situation.


Medical companies have been known to negotiate with debtors that are unable to afford to pay the full amount of the debt that has been accrued. Settlements have been offered to many consumers that are unable to pay the debt and have no assets which can be liquidated to finance the repayment of the debt.

Settle the Debt

When the debt has entered the collection process, it is important to remember that you have made an impact on your credit rating. Once accounts have entered collections they can negatively impact the credit rating immediately. Negotiating with the collections agents for a settlement should include the terms (if possible) that the strike be removed from the credit file. Credit agencies have the ability to undertake this method – and you can negotiate upon full repayment of the debt. Be sure to get this agreement in writing to ensure your safety as the consumer. Furthermore, debt collection agencies are often willing to negotiate the amount which is paid – and are flexible with their repayment terms as long as a regular schedule has been created.

To prevent future medical debt it is important that adequate medical insurance is necessary. Shop around for medical insurance to find a plan that you can afford with the monthly premiums and that will keep yourself, as well as your family safe throughout any accident or illness. Cheap medical plans are available that can save you from financial ruin in the future.

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