USA Today offers three steps to tame your debt:
Add It Up: “List your debts and their interest rates. Include credit cards, medical bills, and auto, payday and personal loans, but not your mortgage or student loans, which are considered “good” debts you can pay off over the long term.”
Pick a Strategy: “With debt avalanche, you pay off the highest interest-rate debt first, which can lower the total interest you pay. The snowball method involves paying off debts from the smallest to the largest amount, regardless of interest rate. The short-term reward of knocking off a smaller debt or two can motivate you to keep going.”
- Be Your Own Advocate: “Using your list of debts, call each creditor. If you aren’t seriously behind on your payments, asking for a lower interest rate or information about a hardship program shouldn’t do any harm.”
For more information on the issues surrounding medical debt, please contact RIP Medical Debt.