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Even if they did, it very rarely makes any sense to apply for a medical bill consolidation loan for a few reasons: 1) you’re paying back the medical debt with interest, which most medical bills don’t charge anyway; 2) the monthly payment can be higher than what even the hospitals are asking for; and last but not least, especially in light of point #2, 3) you’re putting your home at risk unnecessarily.(This is why most consumers with overwhelming medical bills opt for bankruptcy). Medical debt negotiation, settlement, and reduction – If more consumers were aware of our service, far fewer consumers would be choosing bankruptcy as their choice for medical bill relief.Moreover, even with medical debt, the bankruptcy court may force debtors to liquidate “non-exempt” assets like a home or vehicle with a lot of equity in order to pay back the at least a portion of the debt depending on your state.Worse yet, since the bankruptcy reform laws in 2005, more and more consumers are being forced into Chapter 13 “payment plan” bankruptcy, which means you suffer the similar devastating credit consequences and YOU HAVE TO PAY BACK AT LEAST PART OF THE DEBT ANYWAY. Medical debt consolidation using your home equity – Fortunately, lenders use different techniques to underwrite their loans because since medical bills are such an unexpected expense and almost impossible to plan for it in advance (unless you have insurance), most consumers lack the income necessary to pay it back with a home equity loan.

If you’re in search of help paying your medical bills (or your spouse’s medical bills), call today to learn more about our medical debt settlement services: (877) 274-1260. Even though filing bankruptcy on medical bills is common, it may not be acceptable to any future lenders or potential employers that do credit checks, and since bankruptcy stays on your credit for between 7 and 10 years, there’s no way of escaping it anytime soon either.Medical debt can be more emotionally stressful than other types of debt because it almost never accrues by choice.Medical debt is most often a product of an unforeseen illness or accident.When medical debt negotiation and settlement is successful, a consumer can potentially lower the amount they owe and the time frame for becoming debt free*.Our debt reduction service offers the same convenience of a debt consolidation loan, while potentially saving you more money without risking your most important asset---your home.

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