Tips to Help You Deal With Your Medical Debt
If you've got a mountain of medical bills staring you in the face you're probably feeling a bit overwhelmed. The following medical debt tips should help you deal with your bills and get back on your feet in the fastest time possible with the least amount of trouble.
While carrying debt is no fun and can weight on your mind, remember that medical debt in and of itself does not negatively affect your credit, not until your account is sent to a collection agency or you're sued.
Don't Use Plastic
Because medical debt does not affect your credit you shouldn't put any medical charges on your credit cards or accept a doctor sponsored credit program, these both are recorded on your credit report immediately.
Ask for a Payment Plan
Talk to your healthcare provider about your bills and your honest ability to pay. Many healthcare providers will give you a few different options, sometimes writing a portion of the bill off, sometimes giving you a reasonable timeframe and in some situations you'll get both options.
Turn to Taxes
Medical debt is tax deductible so take advantage of this fact and claim it on your taxes, it will save you money in the long run.
Whether you belong to a church group, a civic organization or even if you have a specific medical diagnosis, you may be able to get financial support from these groups to help you take care of your medical debts.
Medical bills are the most common reason why people in America today file for bankruptcy. If you feel that you've tried everything you possibly can to manage your medical debt on your own and you're still overwhelmed, then bankruptcy may be the best solution for you.