Where should I go to consolidate my medical bills/debt?

Answer 1

There are two types of consolidation. The first is actually applying for a loan (ex. refinancing your home) and using the loan to pay all your debts. The second is actually consolidating all your current debts into one monthly convenient payment through debt counseling.

In my opinion it really depends on your situation. I am more familiar with the debt counselnig because I didn't want to apply for a new loan, I just needed a little extra help with paying off my current debts. I was actually a former financial counselor and even we get in trouble with debt sometimes. I admit that I am currently on a debt management program, and it has helped me tremendously. Here's the basics on how they work:

1) You have lots of high interest debt. The high interest debt in fact is making it difficult to make any progress on the accounts. With my case, I was always on time, but I wanted to make a change in my life and rid myself of my high interest debt.
2) you call a credit couneling company. I can't speak for all companies, but at the one I worked for we were trained to counsel the clients. To show care and compassion because they were in some difficult situations. This is sometimes all someone needs. Someone to just listen to, but if the counselor finds that a debt consolidation WILL help, then they will walk you step by step through the program.
3) Okay so you qualify now what? You enroll your high interest debt into the program and the company will begin contacting your creditors to negotiate lower interest rates on most of your accounts. This is a tremendous help because interest consumes most of your monthly payment anyways. Another important thing that you have to remember is that the creditors also CLOSE your accounts. This is to further help you along in paying off your debts.
4) You stay in contact with your consolidation company and creditors. But you only make ONE payment to the consolidation company, who in turn forward it to your creditors.
5) Sit back and watch your debt slowly disappear!

Again, this is just one option. If you plan on applying for a new loan to pay off your current ones, you'd have to speak with a lender, probably your bank where you may have checking and savings accounts. They can walk you through the steps of consolidation. A third option that you may want to consider is consolidating the debt into one credit card. Maybe you have several high interest credit cards, and would like the convenience of just one payment and low introductory interest rates. By applying for a new account you can move all your debts into one. But make sure you read the introductory interest terms and conditions. Just be careful, you don't want to overextend yourself. So if you open a new account, do it for the sake of consolidating smaller debts, and don't use it for miscellaneous spending.

So if you are interested in the debt consolidation company I worked for, it is http://www.incharge.org . If you are interested in the company I have an account with, it is http://www.careonecredit.org/ . Both of these companies are registered with the BBB and have outstanding reputations. The good part is they are also non-profit. They do ask for a monthly donation with your payment, which goes to paying for the counselor's salaries, but you can always decline it if you are really in a bind. I pay it greatfully because they have helped me so much. Anyways, good luck with your research!

Answer 2

Medical Debt Consolidation

Answer 3

Medical Bill Consolidation

Answer 4

This Site Might Help You.

RE:
Where should I go to consolidate my medical bills/debt?

Answer 5

That's an interesting question!

Answer 6

Yes, it's possible