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Medical Debt Relief

43 million consumers have medical debt on their credit reports as of 2022, totaling $88 billion dollars, according to a new report by the Consumer Financial Protection Bureau (CFPB). As of June 2021, 58% of this medical debt is in third-party collection status, negatively affecting credit scores. According to the IBD newspaper, “As of June 2021, such debt made up 58% of bills that are in collections and affected Black (28%) and Hispanic (22%) Americans more than whites (17%) or Asian (10%) Americans.”

Medical debt in the United States is still one of the most common ways people find themselves in financial trouble, but the good news is that help with medical bills is now available. The two most popular types of medical debt relief programs include debt settlement and validation. Let’s take a closer look at these hardship programs and then talk about debt relief options that you can do on your own as of 2022.

Medical Debt Relief Programs 

Option A.) Dispute medical collection accounts with debt validation and potentially have them proven to be legally uncollectible where they no longer need to get paid (click here to learn about a debt validation program)

Option B.) Settle medical debt for around 70% of the total balance owed, including debt settlement company fees (click here to learn about a debt settlement program)

With unemployment rates only slowly rising recently, many are seeking self-employment opportunities through freelance gigs and odd jobs. While projects might temporarily help with income, they won’t be enough to overcome the unreasonably high prices of medical bills that are designed to gouge insurance companies that can afford them.

According to Forbes, a recent survey by the Commonwealth Fund found that 41% of Americans have problems with medical bills or problems paying off medical debt. So, where to turn for options of relief?

Next, we will discuss some medical debt relief options that you can do on your own.

Contact The Hospital & Ask For An Itemized Bill

Just by asking them for an itemized bill with every single charge, they will almost always lower your bill. The reason why is because the hospital reviews your bill internally before sending it to you and will take off unnecessary charges that they don’t want you to see they charged you for (e.g., charging you $35 for a band-aid).

@shaunnaburns3Pro tip debt collections ##askforanitemizedbill♬ original sound – shaunnaburns3

What percentage of medical bills have errors?

A recent article from HuffPost references a University of Minnesota professor’s research that projects 30-40 percent of medical bills contain errors. A report from the Medical Billing Advocates of America estimates that as many as 80 percent of all medical bills include incorrect information. Therefore, just by asking for an itemized bill, it could result in any medical errors getting corrected and your bill getting lowered. 

Create a Budget

Starting with something simple. Sometimes, the gravity of a medical situation and finding medical debt relief is too much to wrap your head around. So return your mind to the simple things; what is the tip of the iceberg to tackle? According to MarketWatch, “For cancer patients with insurance, out-of-pocket costs can reach $12,000 just for one medication, and average treatment costs can hit $150,000, according to the Kaiser Family Foundation. And tragically, cancer patients are 2½ times more likely to declare bankruptcy than people without cancer, AARP Magazine reports.”

Ballparking your total debt, in addition to establishing a reasonable monthly payment, will help you visualize what the journey will look like. Google Drive will allow you to make a digital sheet of your expenses, while several online programs can plan your finances.

Pay Off Medical Debt With The Debt Snowball Method

Additionally, you can use’s new budget and snowball calculators to get yourself organized. In the Budget Calculator, input your expenses and all income sources. Then proceed to the Snowball Calculator to learn a new and effective payment method that can save you thousands of dollars and improve your credit score. 

Here are some additional medical bill-related expenses to look out for, via MarketWatch:

  • Outpatient visits, such as regular provider visits, chemotherapy or radiation treatments, and consultations.
  • Inpatient visits, such as hospital stays and procedures.
  • Lab testing.
  • Prescription medications.
  • In-home caregivers.
  • Mental health therapy during treatment.
  • Transportation and travel costs.
  • Possible lost pay to due absence from work, if any.
medical bills, medical bill debt, medical bill payments & debt relief
Calculating Medical Bill Debt

Consider a Loan

Unless you befriend a billionaire willing to pay off your medical debt, you will need to start considering outside options. Medical payment collections companies tend to be aggressive in their pursuit of you when you owe money on your bills. You can begin by comparing rates with various online lenders, like Lending Club, OneMain Financial, and Avant. Compare interest rates you receive in your online quotes with different lenders to determine the cheapest route. 

If your credit score is less than 710, a customized debt relief service will be a better route for you to take over the loan. Debt relief programs will offer you a faster solution and better savings.


If you’re struggling with mountains of debt, paying high-interest rates, or getting harassing phone calls from collection agencies — it’s time to consider debt relief services. IAPDA Certified Debt Relief Professionals are available to assist you — Just Call Golden Financial Services For Your Free Debt Relief Consultation Now at (866) 376-9846.

How to settle a medical bill for around half on your own

Most bill collectors can make a quick profit from a settlement payment made today. It never hurts to let them know you can’t afford the high bill they are asking you to pay, but you can make a one-time, lump-sum payment instead, in exchange for “payment in full.” Medical bill collectors often pay around 20% of the debt when purchasing it from a hospital. So, you could offer 40% of the debt as a settlement, and they will still make money. Just make sure to illustrate that’s all the money you have, and there is no future income coming in. 

While changes may be coming to the United States’ way of handling medical debt solutions, for now, you may want to contact Golden Financial Services for help. Start by giving us a call at the number above, or apply today online for medical debt relief – Click Here.

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