• February 17, 2018

Medical loans — which are unsecured personal loans applied toward medical expenses — can be used to consolidate existing medical debt, cover emergency or planned medical procedures like root canals or plastic surgery, or pay for high deductibles and out-of-network charges.

Medical loans are likely the most expensive way to cover your medical costs, and you must have excellent credit to qualify for the lowest rates offered by lenders. For this reason, medical loans should be considered only after you’ve exhausted other options, including payment plans and medical credit cards.