 TITLE: Can I Get a Loan to Pay Off Medical Debt? CONTENT: Are There Other Loan Options to Pay for Medical Bills?\n------------------------------------------------------\nIf you don't have health insurance, you're likely to pay more in medical bills because you're responsible for the full cost of your care. Whether you have insurance or not, there are two other options for managing medical bills.\n### Payment Plan\nMost medical providers are happy to work out a payment plan with you if you can't pay your medical bill in full. (Like any business, medical providers would rather get paid over an extended period than not get paid at all.) Payment plans break your total medical debt into monthly installments, similar to a car payment.\nThe best time to discuss payment plans with your medical provider is before you have a procedure done, but you can also contact your provider after receiving your bill to talk about payment plan options. Before agreeing to a payment plan, be sure to ask about any interest, fees or additional costs so you know exactly how much you'll pay.\nSome providers offer income-driven hardship plans. This is a special type of payment plan for low-income patients. Income-driven hardship plans forgive part of your medical debt and divide the remaining amount into monthly installments so the debt is manageable for your income level. Talk to your provider or medical facility to see if they offer income-driven hardship plans.\n### Medical Credit Cards\nMedical credit cards are special cards that can be used only for medical costs and sometimes only for certain procedures. Ask your medical provider whether they accept medical credit cards and if so, which ones. You can apply for medical credit cards online or, in some cases, at your provider's office. Like medical procedures themselves, medical credit cards have some inherent risks you should know about. Many medical credit cards offer zero-interest financing for six, 12, 18 or 24 months; others offer lower interest financing on purchases over a certain amount.\nZero interest financing can help you manage your medical debt, but you must be confident you can pay the balance in full before the zero interest period ends. When the time is up, all the deferred interest retroactive to the purchase date will be added to your balance at once. CareCredit, one of the most popular medical credit cards, currently charges 26.99% interest, so getting hit with 24 months of interest on a hefty medical bill could leave you deeper in debt than when you started. As with any credit card, medical credit card payments are reported to credit bureaus. This can help to boost your credit score if you make your payments on time, but can hurt your credit score if you can't. END