Today, medical expenses are increasing so fast that they are causing a lot of financial strain for the consumers. Even an insured person is finding difficulties in affording a stay in the hospital or a long term treatment. Many consumers who are drowning into debts are filing for bankruptcy, if you are also suffering from sever medical debts and thinking of filing for bankruptcy, then you need to stop and take a look below.Fortunately bankruptcy is not the only option for you to eliminate your medical debt. Like other unsecured debts which include credit card debts, it can also be with the help of debt negotiation and debt consolidation loan. These are legal alternatives to bankruptcy and can help reduce your debts to up to 60%. So before you go for bankruptcy, you should try these options.Before you try to tackle your medical bills yourself, work with a medical bill reduction specialist like a financial advisor or an organization which provides valuable information regarding medical debt relief. If you hold multiple bills, then all of them can be combined into a single loan with a lower interest against your mortgage and with a long duration for repayment. This is called debt consolidation loan. On the other hand debt negotiation is a process in which the professional negotiator discusses your debt issue with the hospital, doctor or other creditors to reduce your debt. The discussion revolves around the topic that you would like to pay your debt in full, however due to your legitimate financial hardship you are not able to. In this case creditor would like to recover at least a portion of the debt rather than have their customers file for bankruptcy and potentially get nothing. So they agree to reduce your debt and pull through at least some amount from their bills.These are some of the most popular options. Other than them there are a lot of options thorough which a person can get rid of his medical debt. As the debt issue was becoming more and more common, due to the present recession of economy where everyone is losing jobs and inflation is so high, there came out many solutions to help people out because if the whole world would end up filing for bankruptcy then where do you think the economy of our State would go? So for the overall financial stability the government introduced many methods, grants and techniques like home equity loans, grants like Medicaid and Medicare for those people who can not afford the medical bills.