Medical debt casts a long shadow over many Americans' financial stability. To address this issue, the government has proposed possible regulatory changes to shield patients from the complications of unpaid medical bills. Understanding these changes as well as your...
Medical Debt and Bankruptcy
What is the No. 1 reason people file for bankruptcy?
Accumulated and unpaid healthcare expenses create an overwhelming burden on households across the nation each year. As reported by finmasters.com, medical debts incurred by uninsured individuals account for 46% of bankruptcies and represent their No. 1 cause. Many...
Options for financial relief for medical debt from diabetes
For decades, many people have been successfully managing diabetes. As a result, others may forget about the seriousness of the illness and what treatment requires for sufferers. Recent experiences highlight a new growing concern among diabetes patients. Individuals...
If you cannot afford care, does a hospital have to treat you?
Most emergency rooms have physicians that know how to triage patients. For that reason, it often makes sense to visit one for any life-threatening condition. You even may choose to go to the ER for ailments that are less serious. According to the Centers for Disease...
How may a bankruptcy affect my future medical care?
Unpaid medical debts may result in overwhelming financial hardships. Many Americans file for bankruptcy to find relief from unmanageable medical bills or to avoid losing their homes. As noted by Credit Karma, some bankruptcy petitioners may wish to continue paying...
Medical debt the most common reason for bankruptcy
There is a stigma about filing for bankruptcy that may prevent some people from seeking the relief they need. There is a persistent perception that people bring bankruptcy on themselves by living beyond their means. This is much less common than many people assume....
Does medical debt affect credit score?
Even if you have a good health care plan, a trip to the emergency room may set you back hundreds or thousands of dollars. If you must stay in the hospital or undergo a surgical procedure, you may spend considerably more. When the medical bills arrive, you simply may...
Bankruptcy may provide relief from overwhelming medical debts
Increased health care costs leave many Americans feeling helpless or trapped. As reported by NBC News, 72% of survey respondents revealed their medical bills prevented them from homeownership or starting a family. About half of Americans surveyed are struggling with...
Can bankruptcy discharge medical debt?
Medical emergencies are extremely hard to prepare for. When an injury or illness can appear instantly, victims have very little time to build a savings to pay for the debt. When tens of thousands of dollars of medical debt become a significant obstacle for someone,...
How can I prevent medical debt?
Injuries and illness can strike just about everyone, which is why it is so important to have the right health coverage in place. However, even with health insurance, you might find yourself mired in medical debt. Here are a few ways to prevent accruing debt, even when...
