By at October 13, 2009 16:33
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If you feel like you’re drowning in medical bills, an unsecured loan might be your lifeline. Every year thousands of people are hit first with serious illness, then hit with the second blow of devastating medical bills. In fact, medical bills forced roughly 620,000 Americans into bankruptcy last year; that’s 62% of approximately 1 million personal bankruptcies filed in 2008.
Being unable to pay your medical bills isn’t your fault. Your debt didn’t originate with fast cars or fur coats. If you’ve been responsible with your finances, you probably qualify for an unsecured loan to help you pay off your bills before your credit or your health suffers.
• 20% of lawsuits noted on credit reports are from medical debt.
• 50% of all collections are from medical debt.
• Many health care providers will no longer treat patients unable to pay off their medical bills.
Every loan comes with pluses and minuses, and an unsecured loan is no different.
• An unsecured loan has a fixed interest rate.
• An unsecured loan has lower interest rate than most credit cards, but higher than a home equity loan.
• An unsecured loan doesn’t force you to use your house as collateral, but you can’t write off the interest on your taxes.
• An unsecured loan is available to renters who can’t get a home equity loan.
America One Unsecured is one of the largest loan-consulting firms in the United States. Since 1999 they and their partner banks have helped more than 3 million people obtain personal unsecured loans and small business loans. Contact America One Unsecured.
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