Paying Medical Bills With a Car Title Loan
April 29, 2014
If you are in good health, great! However, if you have developed a serious medical condition, whether temporary or chronic, you probably already know that medical bills can be very high. In fact, medical debt has become the leading cause of bankruptcy in the United States.
Things aren’t projected to get any better. By 2014, it is expected that our-of-pocket medical expenses will reach an average of $3,301 per household in the United States. Imagine what your bills will be like if you have a serious medical condition?
If the continually high prices of medical care have stretched your budget beyond it’s limitations, you’ll have to come up with extra money to pay your medical bills somehow. Medical providers may be charging unreasonable fees, but your only realistic option in the short term is to forego medical care if you wish to avoid paying medical bills. That is a very risky move and could backfire for both your health and future finances.
Additionally, hospitals are increasingly turning to debt collectors to deal with unpaid bills. Not all debt collectors fit the stereotype of being mean and heartless, but do you really want to deal with collectors harassing you?
If you have medical debt that is piling up, the time to pay up or deal with collectors may arrive sooner than you think. So, it may be best to just pay the bill and start off with a clean slate. How can you do so?
Consider a Car Title Loan
A loan to pay off a debt – won’t that just give me more debt?
With any loan, you will take on debt. However, the goal here is to avoid having to deal with debt collectors, avoid having a tarnished credit report and to not have to find a new medical provider because of your unpaid bills. Also, what’s fair is fair, and the medical provider deserves payment for his or her services if they were fairly charged.
So, you can use your vehicle to get a loan to pay off your medical bills. You can do so by getting a car title loan, which you also may have heard called a title loan, u-drive loan or a pink slip loan.
With a car title loan, you’ll temporarily give possession of your vehicle’s title to a lender in exchange for a loan. Note that this is just the title. At Car Cash Loans, you’ll get to keep your vehicle throughout the entire process.
Will I Have to Go Through a Credit Check?
If your medical bills have been piling up for a while, your credit score has probably declined. Luckily, you won’t have to worry about that. Car Cash Loans will never check your credit history.
How Quickly Can I Get a Car Title Loan?
You probably just want to get this ordeal over with. A car title loan will work well in this regard.
The entire process of getting a car title loan can typically be completed the same day that you apply for it. At Car Cash Loans, you can expect to be in and out in around an hour. That’s just about 1 hour to apply for a loan and walk away with the money you need!
Should I Get a Car Title Loan?
Medical debt is a serious problem for many Americans and will likely continue to be for quite some time. If you need money now or in the future to pay medical bills, consider a car title loan. Having to borrow money is rarely an ideal situation, but you may be able to make the best of this problem by taking out a car title loan. Just be sure to take out enough to cover your medical debt, work out a repayment schedule that fits your needs and make every effort to pay your loan back early. Doing so will give you the money you need while allowing for a comfortable repayment schedule.