When it comes to your health, you shouldn’t have to feel like you’re unable to get the care you need because you don’t have the money to fund medical expenses. Whether you’ve had multiple doctor’s visits and the bills are piling up or you’ve run into a medical emergency, you have the option to turn to direct installment loans for medical bills.
Can You Take Out a Loan for Medical Expenses?
Yes, you may be able to take out a personal loan for a medical emergency. In fact, you may be able to take out small personal installment loans for virtually anything. There are many different types of loans. Two major categories of loans are secured and unsecured loans. Personal loans are unsecured loans, meaning that there is no collateral except for your promise to pay back your lender.
When you have medical expenses and need financial assistance, you may consider taking out one of the many direct installment loans you can find online.
Here are the general steps you can follow to get an unsecured installment loan:
Research lenders
Look for reputable online lenders that offer direct installment loans. Ensure they are trustworthy, have positive customer installment loan reviews, and have transparent terms.
Check the eligibility criteria
Review the eligibility criteria of the lenders. This typically includes factors such as age, income, and credit score. Some lenders, like MaxLend, offer loans to individuals with less-than-perfect credit.
Gather necessary documentation
Prepare the required documents, such as proof of income, identification, and banking information. The specific requirements may vary by lender.
Apply online
Visit the lender’s official website and complete the application form. Provide accurate information about your financial situation and the reason for the loan. MaxLend makes it easy to apply for our direct online installment loans.
Review the loan terms
You should review the terms and conditions of the installment loan to ensure that the terms align with your financial needs.
Go through the approval process
After submitting your application, the lender will review it and determine your eligibility. Some lenders, like MaxLend, may offer a quick approval process, providing funds as soon as the same day or the next business day.*
Receive the funds
If your personal installment loan online is approved, the loan amount will be deposited directly into your bank account. This allows you to access the funds quickly and use them for your medical expenses.
Repayment plan
Understand the repayment plan outlined by the lender. Direct installment loans involve repaying the borrowed amount in fixed, regular payments over an agreed-upon period. Ensure that the repayment plan fits your budget.
Use the funds responsibly
Use the loan funds responsibly for your medical needs.
Choose a lender that prioritizes transparency and customer support and offers favorable terms. For example, MaxLend is an online lender that provides direct installment loans and may consider individuals with different credit histories.
Remember that while installment loans can provide quick financial assistance, borrow responsibly and only take out a loan amount you know you can repay.
How You Can Use Personal Loans for Medical Bills
You may want to use a medical loan to help pay for any of the following:
- Medical emergencies
- High insurance deductibles
- Out-of-network doctor visits
- Cosmetic surgery
- Elective surgery
- Dental procedures
- Weight loss surgeries
- Ongoing medical treatments
What Happens If You Can’t Pay Your Medical Bills?
You have several options to choose from if you are unable to pay your medical bills, such as:
- Negotiate the balance with your healthcare provider’s billing department.
- Ask if you’re able to opt in for medical financing or if there’s a payment plan option.
- Pay your medical expenses with a credit card.
- Find out what is covered under your insurance plan (if you have an insurance provider).
- Take out a loan for your medical bills.
If your healthcare provider doesn’t offer medical financing, you may be able to take out a personal loan, in the form of a personal installment loan online, for a medical emergency. At MaxLend, we offer short-term installment loans, which you can repay in installments over a set period of time. Direct installment loans are an alternative solution to payday loans. While these types of loans aren’t listed specifically as medical loans, it’s up to you how you use the funding.
Same Day Funding* & Next Day Loans with MaxLend
At MaxLend, we understand that you may be struggling with money. We know that finding or making money to cover medical expenses may be stressful. Don’t sacrifice getting the care you need because you’re worried about not being able to pay your medical bills. At MaxLend, you can apply for cash online to see if you qualify for an unsecured installment loan. After approval, your money will be deposited into your bank account as soon as today.*
For more information on how you can apply for a fast loan for a medical emergency, how you can use your online installment loans for medical bills, or for information on the MaxLend loan loyalty rewards program, contact us today. We’re available 24/7 at 877-936-4336.
Related Reading:
How to Stay on Top of Your Bills
*Same Day Funding is available on business days where pre-approval, eSignature of the loan agreement and completion of the confirmation call, if a call is required, have occurred by 11:45 a.m. Eastern Time and a customer elects ACH as payment method. Customers who complete this process by 1:30 p.m. Eastern on business days may still receive funds on the same day, but some banks may not disburse the funds until the next business day. Other restrictions may apply. Certain financial institutions do not support same day funded transactions. When Same Day Funding is not available, funding will occur the next business day.
The content on this site is for informational purposes only and is not professional financial advice. MaxLend does not assume responsibility for information given. All information should be weighed against your own abilities and circumstances and applied accordingly. It is up to readers to determine if this information is safe and suitable for their own situations.
MaxLend, is a sovereign enterprise, an economic development arm and instrumentality of, and wholly-owned and controlled by, the Mandan, Hidatsa, and Arikara Nation, a federally-recognized sovereign American Indian Tribe. (the “Tribe”). This means that MaxLend’s loan products are provided by a sovereign government and the proceeds of our business fund governmental services for Tribe citizens. This also means that MaxLend is not subject to suit or service of process. Rather, MaxLend is regulated by the Tribe. If you do business with MaxLend, your potential forums for dispute resolution will be limited to those available under Tribal law and your loan agreement. As more specifically set forth in MaxLend’s contracts, these forums include an informal but affordable and efficient Tribal dispute resolution, or individual arbitration before a neutral arbitrator. Otherwise, MaxLend is not subject to suit or service of process. Nothing in this website is intended to waive or otherwise prejudice MaxLend’s entitlement to these protections. Neither MaxLend nor the Tribe has waived its sovereign immunity in connection with any claims relative to use of this website. If you are not comfortable doing business with sovereign instrumentality that cannot be sued in court, you should discontinue use of this website.
