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Medical Bills

Without a doubt, medical bills can be the most depressing financial obligations to have. In an urgent situation, requiring medical attention can erase the thought of financial consequences afterwards. Normally, many people don’t worry about that kind of thing until the medical emergency has passed. Without an eye towards the future, medical bills can grow well out of hand before you’ve had a chance to reclaim your life from your medical ordeal. Fortunately, you don’t have to be a victim of your medical bills. There are multiple forms of debt relief that can help you eliminate medical bills in various ways.

Ways to Eliminate Medical Bills

Debt Settlement

Debt settlement can help to alleviate medical bills in a short amount of time and without impacting your credit (unlike other forms of debt relief). In this form of debt relief, your overall debt is negotiated down between your debt settlement company and the institution you’re indebted to (in this case, a medical facility). Having less to pay can help to save you some money while still handling your financial obligations. Depending on your particular situation, debt settlement might be the best option to choose.

Debt Consolidation

Debt consolidation is a great way to combine multiple debts under one loan. If you find that you have multiple medical bills, debt consolidation can put them all together and have the original source of the debt paid off. While this can help to organize your medical bills, this is the only benefit that debt consolidation offers to those in debt. You’ll still owe the same amount of money, only to a bank or loan provider. If you don’t have a method of making payments on the debt, you may find yourself in the same situation you started with. Know what you can handle financially before embarking on a path to debt consolidation.

Credit Counseling

Credit counseling can help to provide you with valuable information in order to deal with your debt. If you have various types of debt from multiple sources, this can help you to better understand the financial impact of each form of debt. With medical bills, the only benefit credit counseling can provide is a potential plan to pay off your debt. While this form of debt relief isn’t as hands-on as the other forms we’ve discussed, it also does not cost you anything. In the event your credit counselor deems it necessary, a debt management plan might be recommended. This will set up a payment plan with the medical facility in order for you to satisfy your medical bills.


Filing for bankruptcy can help to discharge many unsecured debts that you may have. Having a large medical debt discharged can, at times, be the most beneficial course of action to take. However, while the benefit of having your medical bills discharged is great, the cost is just as great (if not greater). Bankruptcy stays on your credit report for years on end, up to ten years total in some cases. This can prevent you from applying for other forms of credit. Bankruptcy can stand in the way of your goals of purchasing a car or a home. If your options are slim, bankruptcy can help, but be sure to know the consequences.