Doc, I Can’t Pay Your Bill; Can I Get A Loan?

March 2nd, 2011

Sure, just fill out this form
It all started with a simple visit to the doctor, ‘routine’ was the word that came to mind that morning. A quick examination and then a referral to have a blood test. Routine, right? “Hmm, there’s something here that needs further investigation,” says the kindly old doctor as he peers at my results. Another test accompanied by an ultra-sound ‘just to make sure’. Still routine, right? Well almost…

On and on
And so it went, or rather, it still goes, on and on. The doctor, the lab and the hospital have infinite patience while I fume at this unwanted interruption of my daily life. One day in the doctor’s office, the nurse hands me a rough estimate of the bill that I am running up. I look at it and gasp. The bill does not include the parking and the spiraling cost of the gas that I’m consuming between doctor’s office, hospital and test labs. I seem to find myself in front of the ATM every second day.

The doctor’s bill
The doctor’s bill itself is a shock. I don’t have the ready cash to pay an amount like that. So at my next appointment which is to review the latest test results, I try and turn the matter into a joke: “Hey, Doc, about your account. Can I get a loan from you?” To my utter amazement I don’t get some acid reply and he simply says, “Maybe. Speak to my nurse on the way out.” She doesn’t flinch when I ask her and hands me a form to fill out.

Bank partnerships
It seems that many doctors are now partnering with banks and other finance companies to offer loans to their patients to help them pay their medical bills. The thing is, while taking a loan from the doctor may be convenient, it’s often not a very good choice from an economic standpoint.

Other options
If you are among those who find themselves facing a huge amount of debt from the doctor’s office or from a hospital, you may want to consider other options instead of a medical loan from the doctor’s office. If your credit is good for example, you may be able to get a personal loan from the bank at a lower interest rate. Paying on your credit card if you happen to have a good credit card rate is also a possibility.

Try to Get a Payment Plan
Consider trying to get a payment plan instead of taking out a medical loan. Most doctors and hospitals will be happy to work out an interest free payment plan for you as long as you can pay off the money within a reasonable period of time. You may have to be a bit pushy about it though, especially if the doctor’s office has a deal to offer a medical loan with a company that underwrites them. Standing your ground however will ensure that you’ll get the deal you need rather than the one the doctor’s office wants.

This entry was posted on Wednesday, March 2nd, 2011 at 7:30 am and is filed under Advance Cash Loan, Cash Advance, Cash Advance Loans, Finance, Loans, Money, Payday Loans, Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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