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  • Writer's picturePreston Morris

Medical Loans For Bad Credit

The company typically funds personal loans for medical expenses in one to two business days. You must have at least a 670 credit score to apply for a personal loan from Upstart.

Looking For a Medical Loan?

CLICK Here For Instant Medical Loan Application!

Can I get a medical loan with a 500 credit score?

If your credit score is in the 500 range, you may think you can't obtain medical financing. That is not necessarily the case. You may qualify for a medical loan online, even with a low credit score.

What is a personal medical loan?

A medical loan is an unsecured personal loan that covers health care costs. They can be used to consolidate existing medical debt, cover emergency or planned medical procedures like dental work or plastic surgery, or pay for high deductibles and out-of-network charges.

How does a medical loan affect your credit score?

Most healthcare providers do not report to the three nationwide credit bureaus (Equifax, Experian and TransUnion), which means most medical debt is not typically included on credit reports and does not generally factor into credit scores.

What is the minimum monthly payment on medical bills?

But there is no law for a minimum monthly payment on medical bills. If that were true, hardly anyone would need to file bankruptcy for medical debts. The truth is that the medical provider can sue or turn you over to collections if they are not satisfied with the amount that you are sending in.

Looking For a Medical Loan?

CLICK Here For Instant Medical Loan Application!

Can hospital bills be paid in installments?

Many hospitals allow patients to pay bills in installments and typically have no eligibility requirements for enrolling in such a program. Some will even offer another type of installment plan, known as an income-driven hardship plan, for low-income patients with high medical debts.

How to negotiate medical bills before they hit collections

  1. Negotiate before treatment.

  2. Shop around for lower treatment costs.

  3. Dive into your insurance policy.

  4. Ask for an itemized bill.

  5. Ask for a pay in full discount.

  6. Ask about a payment plan option.

  7. Look for financial aid.

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