How to Eliminate Medical Bills

Sometimes an individual has no health insurance or medical copays and deductibles add up. Medical bills can become overwhelming for people who lose their jobs or see their income reduced. Options to eliminate medical bills include working out a payment plan, using your home's equity, loan consolidation and bankruptcy.

Instructions

1

Contact the medical facility or provider to whom you owe money. Ask for a payment plan that will work for you and the provider. Do not wait until the account goes into collection.

2

Get a home equity loan or a cash-out refinance loan on your home. Use the equity you have in your home to pay off the medical bills.

3

Take out a consolidation loan if you have good credit. This type of loan allows you to consolidate all of your medical bills into one monthly payment. Depending on the lender, you may be able to receive a loan with no collateral.

4

Use a credit card with a low interest rate or an introductory zero rate to consolidate medical bills. Make the payments and pay off the card before the finance charges accumulate.

5

Negotiate with the medical facility or provider. If you are able to offer a lump-sum payment, ask for them to discount the total amount of the bill.

6

If the medical bills are more than you will be able to pay, consider filing for bankruptcy. This option hurts your credit for several years, so make sure there is no other way for you to eliminate your medical bills.