medical bills · emergency care · payment options
Loans for Medical Expenses and Emergencies
Before borrowing to pay a medical bill, confirm it’s correct and ask what help the provider offers.
If you still need to finance it, compare a personal loan with the provider’s plan and any medical credit card.
Separate option – personal loan rates
Check personal loan rates for medical expenses without affecting your credit score¹.
Check your rateOn the Upstart platform, you could receive offers from lenders.
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¹ When you check your rate, we check your credit report. This initial (soft) inquiry will not affect your credit score. If you accept your rate and proceed with your application, we do another (hard) credit inquiry that will impact your credit score. If you take out a loan, repayment information may be reported to the credit bureaus.
Check these before you borrow
- Ask for an itemized bill and check it against your insurance explanation of benefits.
- Ask the hospital or provider about financial assistance or charity care.
- Ask for an interest-free payment plan directly with the provider.
- If you’re uninsured or self-pay, the federal No Surprises Act rules give you the right to a good-faith estimate for scheduled care.
Personal loan vs. medical credit card
The CFPB notes medical credit cards often use deferred interest, so an unpaid balance at the end of the promotion can bring significant interest and fees.
A personal loan has fixed payments and a set end date. It also moves the debt from the provider to a lender, so compare it with what the provider offers before you pay off a bill with borrowed money.
If you’re facing a large balance
- Ask the provider for a reduced self-pay or prompt-pay price.
- Talk with a nonprofit credit counselor about your overall budget.
Know the cost before you accept
- APR: the yearly cost of borrowing, including interest and some fees.
- Fees: origination, late and other fees.
- Repayment: monthly payment, number of payments and total repaid.
- Pre-approval or prequalification is not a guarantee of final approval or of the rate shown.
FAQ
Should I take out a loan to pay medical bills?
Check the bill for errors and ask about financial assistance and interest-free payment plans first. If you still need to borrow, compare APR, fees and total repayment.
Can I get a medical emergency loan with bad credit?
Possibly, but approval isn’t guaranteed and rates may be high.
Is LendMail the lender?
No. LendMail is an independent guide and does not make loans or approval decisions.
Related loan guides
Sources
- CFPB — Medical credit cards and payment plans (covers dental, vision and veterinary products)
- CMS — No Surprises Act: your rights
- CFPB — What is a credit inquiry?
LendMail is an independent guide, not a lender. We don't make loans or approval decisions.