Gerry's Blog

Tips For Those Who Are In Medical Debt

Sadly, over 25% of adults are in medical debt. If you are in debt, then there are many things that you can do which I will share in this article. One thing that you can do is get a personal loan. With an unsecured loan you will not have to worry about your belongings getting repossessed due to non-payment.
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[b]Negotiate your medical bill[/b]
First allow me to go to through ways that you can reduce your medical debt. The first thing that you can do is negotiate your bill. Many people do not know that they can negotiate their bill. Why pay more than you have to? I've heard of bills getting reduced by 90% at times. Make sure that you talk to a financial assistant and see how you can lower your bill. Another thing that you can do is dispute hospital charges that you find unfair. You will never know how much you can save until you ask or make a move.
[b]Select an online personal loan lender[/b]
I love online lenders for many reasons. With an online lender you will usually receive lower rates. Although, some might charge an origination fee. You will not have to worry about prepayment fees and other fees that you would have to worry about with your local bank. Your APR is almost always lower as well. Another thing that I love about choosing an online lender is that an online lender will help you to save time. Online loan companies are built to help you to save time. You will no longer have to drive to one place to another. You can apply from the comfort of your own home and the application process can take minutes. Another thing that you will love with an online lender is that they are always available. Your local bank might close at 6PM. However, an online lender is going to give you 24/7 support. You will also be able to find out more information online from the community that the lender offers. The last reason that I recommend choosing an online lender is because you have a stronger chance of getting approved.
[b]Here are two online lenders that you can use [/b]
[b]SoFi[/b]
SoFi is a well-known online lender that was founded by four Stanford Graduate School of Business students. SoFi might be the top lender for a few reasons. With SoFi you will be able to get a membership discount if you add another loan. For example, if you take out a personal loan and a mortgage loan you will be able to get a 0.125% rate discount on the mortgage loan. Another benefit of SoFi is that they offer unemployment protection. This is great feature to have if you were to ever lose your job. With unemployment protection, SoFi will temporarily pause your payments to help you to get things on track. Not only will they pause your payments, but they will also help you to get a job. If you want to be backed up by a community, then SoFi offers large community to their customers. When you join SoFi you will be able to join exclusive member events such as parties, educational events, and more. You will even be able to bring guest with you to their events.
[b]Earnest[/b]
Another awesome lender is Earnest. Earnest specializes in refinancing student loans. However, they also offer personal loans. Many people ask [url=https://quoteraters.com/sofi-vs-earnest/]which is better SoFi or Earnest[/url]? They both are awesome companies. You just have to find out which company works best for you and what you are trying to do. Earnest personal loan rates start at 5.49% and loan amounts range from $5K-$75K. I love that Earnest gives their customers a prompt response instead of making you wait. The application process is simple. All that you will need to do to receive a loan with Earnest is select your loan details such as your loan term and fixed APR. Then you will add your education information such as where you went to school. After adding your education information, you will add your employment, financial, and personal information.
[b]Bottom Line[/b]
A high medical debt does not have to be your reality. From experience, there are several things that you can do to lower the amount of your debt. Start using these tips

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