Having to deal with any type of medical condition can be stressful enough. There can be the worry over not only whatever the medical issue is, and finding the right doctors and treatment, but there can also be a good deal of physical pain that comes with some conditions. Add to this the expense of medical bills and it can at times feel like too much to handle.
Recently, a study was conducted by The Keiser Foundation and Clear Point Credit Counseling Services. In this study, one out of three reported struggling to pay their medical bills.
Looking at this study, while some may assume this is due to the uninsured not being able to afford medical care, the truth is that most of the people who reported struggling actually have medical insurance.
In talking about debt, when it comes to medical bills, this is the type of debt that frequently grows into other types of debt, with some people using credit cards to pay medical bills. As one can imagine, this is troublesome, as transferring the debt onto a credit card is not a real solution. Rather, many credit cards carry with them high interest rates, which in turn just cause the original debt to grow.
In addition to credit card debt, there are also many who find themselves unable to keep up with both their mortgage payments and their medical bills. For some this means not only having to deal with a medical condition and medical debt, but also living in fear of foreclosure.
However, for those in Wisconsin who are struggling to pay back medical bills, know that there may be debt relief options available, including filing for bankruptcy. Of course though, there is no one-size-fits-all approach to medical debt. Rather, an attorney with experience handling these types of cases can look at a person’s individual circumstances and provide legal options based on their situation.
Source: NBC12.com, “On Your Side Alert: New Study on Medical Debt,” Gray hall, April 7, 2014