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Does It Hurt When I Pay This?

Medical expenses by their very nature often arise unexpectedly. Whether you’ve been in an accident, found yourself unable to shake an illness, or grown increasingly concerned about something that doesn’t look or feel right, it’s far too easy to go from fine one minute to freaked out the next.

Everything medical costs money. Maybe it’s the system, maybe it’s the doctors, maybe it’s the insurance industry – when we’re sick or injured, it really doesn’t matter. The expenses are going to add up quickly at every step along the way. From your co-pay at the front desk to the half-dozen bills piled up on your desk at home months later, it seems like insurance should have covered more than this. You didn’t realize the smallest treatments could cost so much. And some of the statements are from places you didn’t even realize you used!

Take a long, deep breath. There are solutions. You have options. You don’t have to max out your high interest credit cards or default on your medical bills and get turned over for collection. You don’t have to choose between decent medical care and groceries for the week. Medical bill loans are a common solution to temporary medical debt. There are lenders who specialize in personal loans for medical bills and who will understand your circumstances and work with you to arrange a solution that benefits everyone involved.

Some medical finance companies even promote medical loans for bad credit, knowing it’s a need and that most folks are more than happy to pay for the services and products they’ve used if they’re simply offered some flexibility with the terms. Spreading your debt out over a set time period with predictable monthly payments helps bring order to the chaos of medical debt. It allows you to meet your obligations on friendlier terms and avoid damaging your credit. In fact, with a little commitment, it can actually help you make your credit stronger.

Medical lending is an especially important industry because health care providers aren’t always eager to become long-term creditors. Some will work with you to make payment arrangements, but most are quick to turn your account over to a collection agency if you fall into delinquency. Medical debts can damage your credit just like any other missed payments or defaults. Fortunately, there are things you can do and rights you have when it comes to medical bills. If you’re willing to put in a little extra time communicating with your insurance company and negotiating with your health care providers, you can avoid some of the most common pitfalls of medical debt. And for the rest, there’s Loanry.

Insurance Uncertainty

PBS.org reports that about “44 million people in this country have no health insurance, and another 38 million have inadequate health insurance.” That’s nearly 1/3 of all Americans who have to evaluate their financial options before agreeing to essential medical procedures. You’ve no doubt read or heard politicians and editorialists debate the health care system in the U.S.; you may have strong opinions of your own. But what really matters when you’re faced with a decision about treatment is how much you’ll be expected to pay, right now, in this situation. With “how much” often comes an even more difficult question – “how?”

While rich, healthy people continue arguing over the solutions, millions of Americans are completely without health insurance. Even those who have coverage are discovering how quickly co-payments can add up. Months after treatment, you may start receiving bills for the many things not covered by your plan – and those medical billing offices aren’t always gracious or patient about the balance due.

Loans for medical treatment won’t magically fix everything. The money you owe won’t simply go away. What the right health loans can do, however, is allow you to make major medical decisions for primarily medical reasons. They give you an opportunity to pay for essential treatment in manageable chunks, over time, while guaranteeing your doctor and care facility their full payment now. Then, when you feel better, you can devote some time and energy to fixing the larger system – whatever that may look like to you.

Other Medical Payment Options

For many Americans, the natural inclination when confronted with expenses beyond what they can pay is to pull out a credit card. This isn’t always a bad thing – if the amounts are small and the cards carry a reasonable interest rate, it’s certainly the easiest short-term solution. Unfortunately, the amounts aren’t usually small and most of our credit cards carry interest rates well above those available on the right personal loan for medical bills. It’s far too easy for credit card debt to spiral out of control even without medical expenses in the mix. Think carefully before choosing this as your go-to solution.

Medical credit cards are a relatively new option which may prove useful. These cards are designed specifically for medical expenses, and may offer better terms than a typical credit card. Conversely, not every medical facility or doctor’s office accepts every brand of medical credit card, so you’ll need to ask in advance if this is an option for your preferred sources of medical care. Medical cards may have somewhat restricted use as well – working only for certain dollar amounts or situations, and with less flexible repayment requirements than a traditional credit card. Despite all of this, if you anticipate regular medical needs, a medical credit card is certainly worth looking into.

It’s always worth calling each medical creditor and attempting to make payment arrangements. While time-consuming, many billing departments are appreciative when customers initiate contact instead of waiting until something is past due. If you do work out payment arrangements, it’s essential that you do everything in your power to stick to them in order to avoid further penalties and reserve the option of negotiating similar arrangements in the future. Like any other monthly expenses, however, it’s often easier to consolidate multiple obligations into a single monthly payment – in this case, by securing a personal loan for medical bills.

Loanry® is here to help you pay for medical bills so you can focus on your health & wellness

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Why Loanry?

If you’re struggling with medical debt, or making major decisions about an upcoming medical procedure, the last thing you want is to complicate your life even further. There’s absolutely nothing wrong with visiting your local bank or credit union to discuss a line of credit for medical procedures, but it’s difficult to take time off of work and you’re not even sure whether the person you need to talk to will be in at the same time. You could seek out friends or family members and hope one or more of them might be willing to extend you a little credit. Either way, it’s awkward and time-consuming and you’re not even sure what sorts of terms you can expect – or even what you should ask for.

That’s where the convenience of online lending comes in. Whatever else the internet has or hasn’t done, it’s revolutionized how many industries do business. Just think about the convenience of online shopping for books, music, kitchen appliances – even clothing or medical supplies. It’s sometimes difficult to imagine how we managed to find or get anything a generation ago! And most of the things we want the most are less expensive and more easily available as a result – so much so that brick-and-mortar stores have often had difficulty competing.

The same revolution has occurred in borrowing and lending. Your options have expanded and lenders are working harder than ever to compete for your business with flexible terms and competitive rates. You don’t even have to schedule an appointment – it’s all there, accessible with any connected device, whenever you’re ready and from wherever you are. Research current interest rates, educate yourself on related terminology, or submit a few basic bits of information about who you are and what you need. We’ll reference our curated database of the most reputable and reliable lenders to find those most likely to meet that need. Once that connection is made, it’s entirely in your hands. If you’re happy with what they’re willing to do – it’s a win. If not, well... that hardly ever happens, so it’s difficult to remember what comes after that!

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If you’re researching medical loans for surgery or credit for medical procedures then things may feel a bit overwhelming at the moment. Either you or your loved ones are apparently dealing with some difficult situations, both medically and financially. There’s no way to spin this as a total positive – sometimes our choices are “difficult” or “really, really difficult.”

It’s important to keep in mind that your current situation is temporary. Things sometimes get better, they sometimes get worse – but they rarely stay the same for long. Do what you have to do to get through this moment, but make those choices with an eye on the “better.” The right surgery loan or medical loan for bad credit can help you manage the short-term crisis, but it’s also a foundation for a stronger financial future. By making sure you can pay those medical expenses in a regular, controlled manner, you’re avoiding delinquency. By finding a payment method other than high-interest credit cards, you’re avoiding one of the most common fiscal pitfalls in modern American culture – the eternal credit card debt.

As you begin making your loan payments on time each month, and continue doing so, you’re building a solid credit history going forward. As you stay current, you’re gradually raising your credit score. Why does that matter? Because one day you’re going to need credit again. You’re going to want to buy a new (or new-to-you) car or truck. It will be time to buy a home. You’ll want to pay for a wedding, or a family vacation, or finally consolidate those credit cards and other miscellaneous debt and reduce them to one easy monthly payment.

When that day comes, your credit history and credit score will largely determine how many options you have and what sort of terms and interest rates you’ll be able to secure. Better history and better score means better options – more flexibility, lower rates, and happier times. And it all starts now. These may not be your best times, but they can be the foundation for far better times. And you don’t have to do it alone.

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Loanry is only one part of the Goalry family. We’re proud of what we do here, but our vision is larger than connecting people with reliable lenders. We’re a complete “content mall” of related sites, each having a different focus but all designed to help you take more effective control of your personal and small business finances. We have over a thousand informational blog entries distributed across our little segment of the web, and hundreds of educational financial videos on our YouTube channel. We’re constantly adding new online tools to help you make more informed financial decisions or experiment with terms, rates, or other elements of your medical loan or any other loan you may be considering.

You can follow us on the social media platform of your choice and reach out to us anytime, anywhere. We can’t promise we’ll respond instantly at 3 a.m. on a holiday weekend, but you’ll hear back from us more quickly than you might think. A single log-in and password will identify you across the Goalry family.

You don’t have to digest it all at once, but take a few moments here and there to explore Accury, Billry, Budgetry, Cashry, Debtry, Taxry, Wealthry, and of course the rest of Loanry. It’s all here, it’s all free, and it’s all in plain, simple language. We’ll never tell you what to do, but we will help you make the most informed decisions possible.

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Did You Hear?

“The road to health is paved with good intestines!”

Sherry A. Rogers (Medical Doctor and Author)

Educate Yourself

How To Save Money on

Medical Bills

Medical debt can be a barrier to a consumer’s financial health, affect their ability to build credit, and make it difficult for them to get the health care they need. Whether a consumer is looking to take out health loans or explore other options to pay their medical bills, it is necessary to ensure that they are informed. With the numerous lenders that offer medical loans today, financial education will go a long way in helping you make an informed and conscious decision.

In the same way you want the best information available when choosing a doctor or deciding whether or not to undergo a procedure or continue taking a medication, it’s important to carefully consider your options when it comes to managing medical debt. Start by choosing the right insurance for your situation, and don’t be afraid to ask questions about what they do and don’t cover, and how they handle situations you’re likely to encounter. You may have options under the Affordable Care Act (ACA) which aren’t being advertised. If you know you’ll have recurring medical expenses, consider a health savings account (HSA) which allows you to apply pre-tax dollars to that care.

Always look over your medical bills and check for errors. It’s OK to request a detailed account of the total billed. You may even be able to negotiate some expenses. We try to make medical bill loans as painless as possible, but even an easy medical loan should be your last option – not your first.

Loanry is here to help you make medical debt more manageable. Why don’t we start with talking about ways to have less medical debt to manage?

Explained in 3 easy steps

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this works?

It all starts with a simple loan request that takes a few minutes to complete.

We provide that information, at your request, to participating members who might be able to able to assist you with your financial needs. Many lenders transfer funds to your checking account as soon as the next business day.

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Step 1

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Funds are deposited directly to your bank account as soon as the next business day.

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Reasons for Medical Loans

A medical loan can be used for any number of healthcare treatments and procedures. Whether you’re faced with an unforeseen medical emergency or trying to resolve balances not covered by your insurance, personal loans for medical bills can help.

Emergency Injury or Surgery Loans

When you are injured or in need of emergency surgery, you shouldn’t have to worry about how you’re going to pay for your medical care. A medical loan lets you and your loved ones focus on getting better.

Dental Loans

One of the many reasons people avoid going to the dentist is the cost. Braces, implants, even orthodontic repairs can cost thousands of dollars. Your teeth impact your health as well as your appearance. They deserve better.

Cosmetic Procedures Loans

Cosmetic procedures are expensive and not often covered by insurance. It’s easy to dismiss the value of carefully selected cosmetic treatments, not only for your appearance but your comfort and overall health as well. Medical loans make this possible.

Veterinary Loans

We love our pets, but it’s often more expensive to take them to the vet than for us to go to our own doctors. Whether it’s emergency care, illness, or other unexpected and expensive treatment, we want to give the best to our four-legged family members.

Vision Care Loans

Vision coverage is often a separate part of any health care plan, and rarely covers everything you’re likely to need. It’s impossible to overstate the importance of prompt treatment for anything which may threaten your eyesight or overall health.

Hearing Care Loans

Hearing aids are about functionality as well as overall quality of life. They’re also expensive and often require matching the right equipment to the individual in order to be most effective. The right medical loan can help you hear – and now.

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  • In the State of California, Loanry, LLC is licensed by the Department of Business Oversight pursuant to the California Finance Lenders Law. Loanry’s California license #60DBO 66864 can be viewed by clicking the image on the left.

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