The cost of treating a serious injury or illness in the United States can easily reach five figures, even with insurance. You may be young and healthy, but you never know when a medical emergency will strike. If you’re stuck with bills you can’t afford, here are some ideas for paying off your debt.
- Fight unreasonable charges: The messy medical care system is full of billing mistakes. Some of the most common include charges for services you didn’t receive and medications you weren’t prescribed. If you find bogus charges or inflated prices, contact the facility that billed you to discuss removing them from your statement.
- Avoid using your regular credit card: Putting medical expenses on your credit card may seem logical, but unless you can pay it off next month, you’ll be stuck with exorbitant interest rates. Find alternative payment methods whenever possible.
- Apply for a medical credit card: Many providers have medical credit card applications on hand. Look for one with a six- to 12-month interest-free period for enough time to pay off most or all of your debt before the deferred interest kicks in.
- Negotiate a payment plan: The hospital or doctor’s office may be willing to work with you. Ask about interest-free payment plans that divide your bill into manageable monthly amounts. You may also qualify for an income-driven hardship plan, which could even reduce the total amount you owe.
- Hire a medical bill advocate: If you don’t feel comfortable negotiating by yourself, a patient advocate can help. These professionals are experts at finding coding mistakes and overcharges, and they have the authority to negotiate payment plans and discounts on your behalf.
- Apply for financial assistance through the hospital: Many medical facilities offer financial aid. Some may require you to apply for Medicaid first. If you’re not eligible, then you can seek assistance from the hospital. Just be prepared for complicated paperwork and a lengthy application process.
- Take out a medical loan: A personal loan for medical purposes can help you pay for emergency procedures. However, as an unsecured loan, this tends to come with a high interest rate
- Take out a title loan: It’s hard to find simpler and more convenient financing than a car title loan! To be approved, all you need is proof of vehicle ownership, a verifiable income, and a Texas mailing address. Of course, not all title loan providers are the same. Be sure to compare interest rates and repayment terms so your expectations match reality.
Whether you need money to pay for unexpected medical bills or just enough cash to hold you over until payday, count on VIP Title Loans for the lowest rates in the state. We offer a fast approval process to get you the money you need without delay, plus flexible repayment terms to prevent you from falling into a debt trap. To get started, please contact us online or visit any of our six convenient Texas locations today.