Seeking to discharge, not swallow, the bitter pill of medical debt
Three years after the passage of the Affordable Care Act (ACA), medical debt remains the biggest cause of bankruptcy. A year ago, U.S. Supreme Court upheld the law. Yet the insurance overhaul it requires has still not fully taken effect. And meanwhile, 49 million Americans remain without health insurance. Given the scandalously high cost of […]
Kids and medical costs: what if parents don’t pay?
It’s well known that medical debt is one of the leading causes of bankruptcy. Even when someone has insurance, he or she may be only one serious illness away from overwhelming medical bills – and the need to seek debt relief. What happens, however, when the overwhelming medical bills are for a child? If the […]
Unpaid medical bills and credit reports
It is a widely known fact that medical debt is the leading cause of bankruptcy. Even people with insurance are only one catastrophic illness away from bills they cannot really pay – and hence the need for a financial fresh start through a bankruptcy filing. Less well known, however, is the negative effect that unpaid […]
Even Many People With Health Insurance Struggle to Medical Bills
Medical bills are of course a problem for many people without insurance. But, to a surprising degree, even many people with insurance can encounter problems with paying for medical procedures, prescription drugs or hospital visits. As a result, medical debt remains one of the most common causes of consumer bankruptcy. Why doesn’t having health insurance […]
Medical Debt and the Problem of Phony Insurance
If you have health insurance, do you still need to worry about medical debt? In theory, the answer should be no; after all, the main purpose of having insurance is to cover the medical costs when you or a close family member gets sick. In practice, however, the answer is quite different. After the co-pays […]
The Undeniable Link between Cancer and Bankruptcy
Being diagnosed with cancer can be the most terrifying moment in someone’s life. A million questions instantly fill your mind; is it curable? Will I survive? What kinds of treatments will I need to endure? Rarely your first thought is your finances, and why should it be, when your life is on the line? Unfortunately […]
When Caring For Your Parents Leads To Medical Bankruptcy
There comes a time in every individual or couple’s life wherein the tables are turned, and it becomes a time to take care of your parents. Whether your parents are within an assisted living center, a full time nursing home or if you are personally caring for them within your own home, the task can […]
Filing For Bankruptcy After A Serious Injury or Illness
If you have suffered from a recent injury or illness and have received medical bills in the mail, you know how financially devastating they can be. Medical treatment is not inexpensive, and when considering that of a serious injury with ongoing treatment, your finances can go from great to nonexistent in a matter of only […]
Medical Bill Statistics
Dealing with an injury can be mentally, emotionally and financially straining on you. In addition to lost time and wages at work, the medical bills begin to pile up quickly. Anyone who’s been hospitalized can agree that a serious injury will seriously set you back-sometimes years of financial savings. In many cases the where the […]