No Debt Plan

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The following is a guest post by Tisha Kulak. She is a writer for Creditorweb.com, where she writes about credit card offers, finances, credit cards, and responsible credit card use.

Time and time again, we have been faced with the raising prices of nearly everything. From housing to food, from utilities to child care; the economical situation only seems to be escalating from bad to worse. It is beginning to affect nearly every individual and family across the country, especially those on fixed incomes and those who require medical treatment and prescription medications.

Rising healthcare costs prevent millions of people from even seeking treatment in the first place, which actually created worse health situations. Those who do go forward and fin medical attention must then deal with the high costs associated with their health issues.

So what do you do if you need medical attention but do not have the money to pay for it?

Should you charge it?

Using credit to pay for medical care, especially ongoing health treatment that you can pay off will leave you with bills that are significantly increased due to the interest that is tacked on each month. Add that interest with other card fees and penalties for going over the credit limit of the card will not only leave you drowning in ongoing debt, you will also be left with a very unhealthy credit rating

Work Out a Payment Plan

Well many people who have the ability to pay medical expenses with a credit card will do just that. However, that avenue will lead many down a path of deeper debt and stress. If you find you are in need of medical attention, try instead making payment arrangements with the health care provider of facility. You will end up paying much less than if you charged it and can not make more than the minimum payment each month. The only way you should pay for medical costs on a credit card is if you are certain you can pay off the entire balance at the end of the month.

Find More Alternatives

In addition to the payment plan option, you should also explore other avenues, such as government medical assistance programs, free community clinics, facilities that work on a sliding scale where payments are based on your income, or try other local medical assistance programs in the area in which you live.

Compounding health issues with poor financial situations out of desperation will only make each problem seem that much worse. Plus the negative effects of stress and anxiety over financial issues will make a big impact on your already problematic health issues.

Readers, what do you think? Should you charge medical expenses?