Should You Hire a Credit Counselor to Resolve Medical Bills?

Medical debt plagues many households across the country. It often contributes to the high level of debt that many families and individuals are facing. Medical debts can be erased with bankruptcy and other extreme measures. However, it is important to exercise other options of debt management beforehand. Keep reading to determine should you hire a Credit Counselor to resolve medical bills.

What is Credit Counseling?

The three main forms of debt management are debt consolidation, debt negotiation and credit counseling. In this article, we are going to focus on credit counseling. We will look at how finding the right credit counselor can help build a smart plan to pay off your medical debt and save your credit rating in the process.

Why Hire a Credit Counselor to Resolve Medical Bills?

Credit counseling is a great way to learn more about debt management. It provides options to work with your medical creditors in finding the best solution for your specific kind of debt. Credit counselors should offer a variety of choices for you to work with yourself. They should also offer additional services that include them negotiating or working on your behalf.

Understand Your Level of Debt

Before you find a credit counselor, you need to understand your level of debt. First, make a list of all the medical debt you have and you should include the following information for each medical account: creditor, creditor contact information, interest rate, monthly payment and current balance. Second, take a deep breath and add it all up. This may be a hard number to face, but you need to be honest with yourself and your credit counselor in order to face your medical debt head-on and find a reasonable solution.

Do Your Research (Should You Hire a Credit Counselor to Resolve Medical Bills)

Once you are ready to find a credit counselor you should take the time to do some research. Seek out a credible credit counseling company with reliable, certified credit counselors working for them. You should not be asked to pay for anything until the services have been completed. However, you should have the opportunity to consult about what the fees are. This helps you better prepared to pay at the end of the relationship. Your Counselor should share all your options with you and give you the action plan to complete on your own. They should also remind you they would be happy to complete them on your behalf. This is especially crucial if you are uncomfortable dealing with creditors. This is often the case with many people, so most credit counselors are trained to negotiate and deal with creditors.

Should You Hire a Credit Counselor to Resolve Medical Bills?

Look on the website of the credit counseling companies you are most interested in and review their information and check for real customer testimonials. These are both important components when ensuring you are dealing with a credible company. Also, look for certifications, staff information and full contact information. When you are ready, set up a consultation (which should also be free) to go over your particular medical bills and to discuss recommendations that credit counselor offers. Now you are prepared to start on your plan of action to get rid of your medical debt. Be sure to ask many questions to ensure you fully understand the procedures and exactly what is required of you before you make a commitment.

Related Post: Choosing the Right Accounts to Boost Credit Score

Key Takeaway (Should You Hire a Credit Counselor to Resolve Medical Bills)

Don’t let medical debt set the stage for your future financial endeavors. Take a stand against your medical debts and find a way to resolve them while still preserving your future borrowing opportunities. Good credit is a privilege, not a right and needs to be earned with smart financial decisions and planning. Everyone makes mistakes, it is how quickly you learn from your mistakes and the honest measures you take to correct and pay for your mistakes that show the kind of future borrower you can be.

Take the time to learn from your credit counselor about how to make smart financial decisions and learn to live within your means. Creditors appreciate contact and payment, take responsibility by providing these to them, and work with a credit counselor to put a plan into action immediately on your way to finding relief from your medical debt.

If you, or someone you know is struggling with medical bills contact us immediately to see how we can help.

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