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Medical debt and credit cards

Debt collectors can be quite persuasive. They can often make the South Carolina resident feel as if they must make payments regardless of the situation. The simple fact is, when it comes to medical debt, the average individual often finds it difficult to keep up with the mounting debt.

There are often a variety of options to handle such debt; some of these options are financially more advantageous than others. It may be possible to make payment arrangements with the hospital or doctor's office. Sometimes arrangements can be made that are affordable for the individual. However, in the case of an extensive bill or ongoing medical problem, this may not be possible.

One option that collectors often mention is to put the medical debt on a credit card. This can be an existing credit card or a special medical credit card. This is rarely a good idea. Credit card debt is often expensive to carry and has more of an impact on one's credit score than medical debt. As far as special medical credit cards, while they may offer a grace period in which no interest is charged, once this time period expires, the rate may exceed that of a traditional credit card.

One option that collectors will not mention is bankruptcy. In some cases, the South Carolina resident may find it too difficult to keep up with the debt and need to find a way out. Bankruptcy can offer the opportunity for a fresh start. Experienced legal counsel can analyze the situation and help determine if filing for bankruptcy is in one's best interest.

Source:, "Why You Should Never Put Medical Debt on a Credit Card", Elizabeth Aldrich, April 25, 2018

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