3 Ways to Fund an Unexpected Medical Emergency
You are going to need emergency surgery soon, and the costs are going to be higher than you expected. Like a lot of things in life, this one snuck up on you and is placing a significant burden on your financial situation. To make matters worse, you must be able to maintain paying down all your regular bills as well. The following are three ways to fund this unexpected medical emergency you are facing.
Sell a Car
A lot of families have more than one car. Sometimes, as in the case of a medical emergency, it could be advantageous to sell one of your vehicles to obtain the necessary funds you require.
This is especially good if you or your spouse have access to public transportation as a means to get to work on time.
It may mean that one of you will have to adjust your schedule a bit to make this option work, but sometimes sacrifices must be made for your health.
Get the Treatment and Then Negotiate
Your health is the priority that deserves your focus. This means that it is best to figure out how to get the medical services you need and to then worry about how to pay for it later.
In a lot of cases, medical debt forgiveness is an option if the cost places you in a bad financial situation.
So, it is always important to check into this choice if you are out of other options.
Cash in Your Valuables
You may not have a lot of money, but you might have valuables that you can sell.
Everything from fine jewelry and coins to rare collectibles can potentially fetch a reasonable price from an interested buyer.
The trick is to find a buyer so that you can turn the items you are selling into cash as close to your asking price as possible to cover your emergency medical needs.
Refinance Your Home
Refinancing your home using a cash-out refinance loan can be an excellent way to get the capital you need quickly for an unexpected medical emergency.
It involves taking out alone that is more than the amount owed on your home. The amount you receive above your home’s remaining unpaid debt can be used for other personal reasons.
So, this option can work in a pinch if your medical needs call for taking immediate measures to obtain funding.
Meeting Your Emergency Medical Needs
It took some doing, but you found the funding you needed for your emergency medical issue.
You may have had to do some smart thinking to obtain the cash required, but you are already on the mend.
Soon, you will be up and around again and fully recovered. That means life is going to start to get back to normal for you, and you will be able to resume your routine.
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Category: Debt
