One of the most common reasons people in North Carolina face financial challenges is through medical debt. Illness, injury or a condition might make it necessary to get extensive medical treatment. This often happens without warning and may result in exorbitant bills. Determining viable ways to pay the debt may be key to eliminating them.

Debtors should be aware of their alternatives with medical debt. Any provider of medical care is generally willing to approve of a payment plan. Medical credit cards can also be used. There may even be benefits such as no interest payments for six months to a year. Calculating how much needs to be paid per month to clear the debt will determine if this is a wise step.

Personal loans or personal credit cards are other medical debt options. A personal loan might consolidate the payments into one bill each month. Using personal credit cards for medical debt is risky, but with no interest rate or a low interest rate and a steady income, it could be a viable choice. A medical bill advocate can assess the medical care and the accompanying bills to check for errors or overcharges. This often leads to a reduction. For those who have economic hardship and cannot pay the bills, the costs could be lowered to something manageable based on their means.

Finally, negotiation is frequently effective. Some people who owe money for medical treatment simply request that the bills be lowered. Providers may approve just to get paid. While these strategies can be effective, personal bankruptcy through a Chapter 7 liquidation or a Chapter 13 repayment plan might be helpful in clearing medical debt. When individuals are combing through the potential solutions, having legal advice may be beneficial to help determine the preferable course of action based on the situation.