Fraudulent debt settlement companies make us feel as if not opting for the settlement when having a medical debt problem is a crime. Let me make it very clear that it is neither mandatory nor mandatory to opt for a debt settlement simply because you have a medical debt. If you have benefited from a service, it is obvious that you will have to pay for the same service. There are no exceptions to this rule. You can opt for alternatives or check other options only if you are not able to make payments.
Even in this case, you should only consider the settlement of a medical debt if bankruptcy seems to be the only other option available. Therefore, never fall into the trap of an ad or claim making debt settlement a universal remedy against all types of debt problems.
You may be thinking of selling your home or other property for a very long time. You may have finally managed to get rid of them despite the depressed real estate market. If you have enough money and you have a medical emergency with high medical debt, the smartest option is to use the money available to pay the debt.
Do not forget that there is a huge difference between using the money you have and using your credit card to pay off a medical debt. In case of refund by credit card, you only change source. You use a loan to replace another loan. Such a move increases the chances that medical debt will be treated as a credit card consumer debt. There is no difference between the problem of your debt and that of your neighbor who made impulse purchases last Christmas.
Negotiating with a medical facility will always give you the opportunity to indicate that the debt was not your fault. On the other hand, credit card issuers never want to believe borrowers who say the debt was incurred without their fault. There are so many cases of irresponsible use of credit card debt that every person facing card debt problems is considered irresponsible with regard to finances.
If you are lucky enough to have cash in your hands when a debt problem arises, it makes sense to use these funds. On the other hand, if you do not have money, then you have no choice but to check the option of lightening the debt.