Advice about help with medical debt - The Bills.com Blog

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Advice about help with medical debt

Question: My husband has been out of work on workers compensation for a year. We are currently receiving $200 a week and have no medical insurance. We were out of state and my 6 year old son had kidney failure. There are ambulance, emergency room and hospital bills that I cannot pay. Is there any help available for me?

Answer: I am sorry to hear about yoursituation. Medical debt can accumulate quickly and become overwhelming real fast. You may want to consider the services offered by debt settlement firms. Rather than making monthly payments to your creditors, these programs negotiate lump sum settlements with your creditors, frequently reducing your debts by 50% to 60% of your principal balances. These programs usually take only 2-3 years to complete, so this is a good option for many people to rid themselves of debt in a relatively speedy manner. In many cases they can also reduce your monthly payment toward your debt. There is one major drawback to debt settlement programs, though?they will significantly damage your credit while in the program and for at least a year or two afterwards. However, if you are currently

unable to afford to pay your creditors, the hit to your credit may be worth the benefit of ridding yourself of credit card debt.

If you want a free consultation, Bill is friends with a good debt settlement company called Freedom Debt Relief. The counselors at Freedom Debt Relief will work with you to understand your situation and will advise you on your best course of action. You can give them a call directly at 1-800-544-7211 or you can visit www.freedomdebtrelief.com.

In case it turns out that even a debt settlement program is not affordable to you, then bankruptcy might be the only other option to consider. I encourage you to speak with a bankruptcy attorney if you think that bankruptcy may be a possible

solution to your debt problems. You should be able to find an attorney in your area willing to provide you with a free consultation. Speaking with an attorney will allow you to fully understand the bankruptcy process, providing you with the information needed to make an informed decision in regard to bankruptcy and the other debt relief options available to you. I also encourage you to visit the Bills.com bankruptcy information page .

I encourage you to explore the Bills.com website, to read more about these and other options available to you.

I hope this information helps you Find. Learn. Save.

Good Luck,
Bill
www.bills.com

Also, make sure to get a free financial health check-up with Bills IQ!

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Bill has answered all sorts of questions and has been able to provide those in need of financial guidance with helpful and valuable advice and information on their specific financial area of interest. If you need specific guidance on any of the above mentioned financial areas, feel free to Ask Bill your financial questions and get better informed. Also, make sure to get a free financial health check-up with Bills IQ!

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