Consolidating debt affects credit
The idea was to give consumers sufficient time to deal with insurance payment delays and other issues.
Despite this change, it’s still unwise to sit back for half a year, hoping your own medical debt will somehow resolve itself.
Magnify Money is an advertising-supported comparison service which receives compensation from some of the financial providers whose offers appear on our site.
You could also be sued and maybe even have your wages garnished, in a worst case scenario.
Tell that person that you “want to pay to the best of my ability,” and be honest about your finances.
For example, you might say “I have ,000 worth of medical debt and another ,000 in student loans, but right now I earn only an hour.”Then suggest one of these solutions: The point isn’t to dodge your obligation, but to be realistic about what you can afford.“Don’t low-ball, thinking you can get a great deal.
Once that promo period ends, regular APR charges will apply.
Can’t negotiate away the interest on your unpaid medical debt?
Search for consolidating debt affects credit:
After that, make it a priority to repay the personal loan.