Do you have unpaid medical bills that affect your credit score or you’re looking to sell your home to manage the balance? If so, many creditors might recommend selling your house or downsizing to balance out the costs owed. Selling your house to pay ongoing medical bills doesn’t have to be a stressful experience and it can actually be done relatively quickly, so you have direct cash to give back to your creditor for the remaining balance of your medical bills.
Medical Bills Costs
We know that medical bills can cost a lot, often more than many of us have available upfront. The costs can also continue to increase with interest, added expenses due to a decline or severity in health problems, and more. And while failing to meet the balance of your extortionate medical bills isn’t usually your fault, you shouldn’t suffer even further by letting creditors run your bank account dry. Instead, we have a solution! Selling your home to help pay for unpaid medical bills is becoming an increasingly popular option, especially to elderly couples who have fallen ill, have children who have moved out, or simply cannot care for the house any more. As the real estate market continues to expand, your house could actually be worth a lot, which could help pay off those pesky medical bills.
We also recommend working with your medical provider to develop a payment plan that lets you sell your home in an adequate amount of time, or keep it if selling is not what you originally anticipated. Payment plans are usually arranged on an individual basis, depending on your personal finances and situation. If you are able to work out a payment plan with your medical provider and still want to sell your home, we work with you directly as well to buy and sell your home as quick as possible, and get you the cash value that it’s worth to take on those lingering medical bills.
When your medical bills are left unpaid for a significant period of time, you might find creditors or the medical providers coming after you legally for the remaining balance. If you choose to ignore their requests for payments or simply are unable to meet the payment demands, this can result in legal action against you, leaving a judge to decide if your house should be defaulted in favor of the medical providers for which you owe bills to.
Working With Your Medical Provider
Working out a plan with your medical provider is the safest and most reliable option when it comes to selling your home to pay for medical bills. When you decide to work directly with your provider, you can provide transparent and coherent information on the timeline of selling your house, the management and preparation needed to get it ready for the market, and any other logistics you need to work out in the meantime. When you work with your medical provider, you can have a stress-free and smooth transition, or work out a new plan altogether that fits you both. Regardless, we’re here to make any home-selling process easy, accessible, and informative.