Medical debt consolidation loans
A consolidation loan replaces existing medical balances with a new repayment obligation. Before moving those balances, review billing accuracy, provider negotiation, financial assistance and payment plans. Compare what you would pay under each option.
What to review before consolidating medical debt
- List each provider balance and request itemized bills. Check insurance adjustments, disputed charges and any existing payment agreements before deciding what debt to include.
- Ask about provider negotiation, financial assistance and provider payment plans first. Savings may also cover part of a balance without creating loan interest, while leaving less for other expenses.
- Compare total cost using APR, fees and term against keeping the provider arrangements. Moving a balance with no interest into an interest-bearing loan can increase what you repay.
- For medical debt consolidation, each lender sets its own APR, fees and terms. Check whether resolving bills directly with providers changes the amount you would need to borrow.
Estimate what a consolidation loan could save
Enter your current balances and their APRs, then the APR and term you want to compare. Both are paid off over the same term.
Estimates only, based on the numbers you enter. Not an offer of credit. Lendara is not a lender.
How checking your options works
When you check your options for consolidating medical debt through Lendara, you answer a few questions about the loan you want, your income and your finances.
If participating lenders have options for you, you can compare them side by side: APR, fees, monthly payment, term and total cost. Nothing is accepted until you choose an offer.
If you decide to apply, the lender reviews your application, may check your credit, and decides whether to approve you and on what terms. Lendara doesn't make that decision.
Frequently asked questions
Should I consolidate a medical bill that has a no-interest payment plan?
Compare the remaining provider payments with the loan's total repayment, including fees. A new loan can add costs to a balance that currently has no interest; one combined payment does not necessarily mean a lower total cost.
What should I ask a provider before consolidating medical debt?
Ask for an itemized bill, review insurance adjustments, and discuss provider negotiation, financial assistance and payment plans. Confirm any revised balance and agreement in writing before using a loan to pay it.
Is Lendara a lender?
No. Lendara is a free marketplace that connects you with participating lenders. We don't make credit decisions or lend money.
Related guides
- How to Compare Debt Consolidation Loan Offers
How to compare debt consolidation loan offers on APR, origination fees, term length, total cost and prepayment penalties before you consolidate.
- How to Compare the Total Cost of a Loan (Not Just the Monthly Payment)
Why the lowest monthly payment isn't always the least expensive loan, and a step-by-step way to compare offers by APR, fees, term and the total you'll repay.
- Loan Origination Fees, Explained
What loan origination fees are, how they factor into APR, and a simple illustrative example that can help you compare the true loan cost.
Lendara is not a lender and does not make credit decisions. Lendara is a free online marketplace that connects you with participating lenders, who set their own eligibility rules, rates, fees and terms. Lendara may receive compensation from partners, which may affect which offers appear and their order.