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Tips on dealing with medical debt in Youngstown, OH

by | Sep 30, 2022

Tips on dealing with medical debt in Youngstown, OH

If you’re struggling with medical debt, you’re not alone. Medical debt is one of the top causes of bankruptcy in the United States. And while it can be difficult to deal with, there are options available to help you get out of debt and on the path to financial stability.

If you’re struggling with medical debt, there are a few things you can do to get help.

Your long-term financial stability depends on you devising a strategy to manage your medical debt. If you live in Youngstown, OH and you want to know how to pay medical debt fast, keep on reading because we have five tried-and-tested tips to help you.


How to Deal With Medical Debt in Youngstown, OH


Compute and take note of your total medical debt

The first thing you need to know is the exact amount of what you owe. By finding out the exact amount you need to pay back, you can then create a plan to play it down, consolidate it, or push for forgiveness.


Try negotiating your medical bill

One way to reduce stress related to medical debt is to ask for a discount or an installment plan. You might be able to negotiate directly with the hospital or doctor, who may agree to lower the amount you owe if paid in full upfront. Alternatively, you can request a cash rate or discount rate from your provider– some are willing offer up 20% right away. Finally, If unable to pay immediately, most providers will allow for installments plans which are often interest free.

‌Make sure you have a written agreement. Request that the contract state that they will not contact a collection agency. Make sure you pay your installments on time. Always keep your agreement and don’t miss any payments.


Take advantage of your assets

Determine whether you can sell any of your possessions to assist you generate money to pay off your medical debt. Jewelry, a car, or leisure vehicles such as a boat or motorcycle are all examples of valuable assets that may be sold. Maybe you could downsize to something smaller and less expensive if you rented. Look for an apartment with cheaper rent if you’re renting so that you may save money. ‌

If you’re selling your house or personal belongings, pay off the outstanding mortgage or loan. Then put the rest toward your medical expenses.

‌Consolidating your medical debt through a second mortgage on your house or home equity line of credit is another way to use your assets. You would use the money from the loan to pay off your bills, and then pay back the loan itself, which could have lower payments. However, using your house as collateral might be necessary–and this means that if you don’t repay the loan you took out for your medical debt, the bank or financial institution you’re dealing with might take away your home.


If you find yourself thinking, “How do I sell my house fast in Youngstown, OH, without putting in too much effort?” You’re in luck, because we can help. You can simply choose to sell your property to cash home buyers in Youngstown like us, Access Homebuyers. At Access Homebuyers, we buy houses in Youngstown, OH regardless of the situation or condition they are in. We specialize in helping homeowners like you liquidate their properties as soon as possible. We give out a competitive cash offer for your Youngstown, OH house in its as-is condition.

Our home buying process does not involve getting pre-qualified by a mortgage bank in order to obtain a home loan or listing the property on the MLS or any other listing platform. The reason our team at Access Homebuyers is able to purchase properties very quickly is because we use our own money, meaning we can close faster than traditional buyers. When you choose to sell to us, you don’t have to wait weeks and months just to get good offers. We’re direct buyers and we pay in cash to arrange a quick close. Give us a call at (330) 708-7077 and learn more about the home buying process today!

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