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Medical debt is a troubling situation but you do have options

Medical care is sometimes necessary, but in the absence of excellent insurance, it is a costly expense that can lead to financial devastation. If you are facing crippling medical bills, you aren't alone.

Coming up with a plan to handle medical debt is the first step to getting out of it. One of the first things that you need to do is to find out how much debt you have due to medical care you received. As you are going through bills, scrutinize them. Make sure that you are only being charged for services you received.

If you have insurance, double check the explanation of benefits with your medical coverage. Make sure that you aren't being charged for things that should have been covered by your insurer. If you see any discrepancies, contact the bill issuer immediately to get things corrected.

Try to make payment arrangements with the service provider. If you are able to pay in one lump sum, there is a chance that you can get a discount on the bill. For some people, this isn't going to be possible so you should find out what kinds of payment plan you can set up.

If you know that the medical bills are more than what your finances can handle, you can consider filing for bankruptcy. This will have an impact on your credit, but it can give you peace of mind since you won't have the debt looming over your head.

Knowing the differences in the types of bankruptcy chapters you might file can help you to determine which option is appropriate for your needs and circumstances. Once you decide this, you can take the necessary steps to find financial relief.

Source: The Balance, "Tactics to Deal With Medical Debt," LaToya Irby, accessed Jan. 04, 2018

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