Americans continue to feel the weight of rising healthcare costs. The cost of obtaining healthcare is especially high for residents of Wisconsin. The cost of healthcare in the state is the second highest in the nation behind Alaska. The cost of 235 common medical services in Wisconsin was 81 percent higher than the national average.
Many families do everything they can to shield themselves from debt. Smart spending, living within their means, buying all types of insurance, putting money into a savings account and paying credit card balances off every month are great ways to create a financial cushion.
When it comes to a serious injury or illness, there is no such thing as a small medical bill. People trying to recover their health often find they have been stricken again; by credit agencies that use those medical bills as a reason to cut credit ratings and portray the debtor as a poor financial risk. An Ohio woman whose $6,200 medical debt tanked her credit rating got Congress' attention and began what has become an odyssey to amend the Fair Credit Reporting Act.
Bankruptcy doesn't usually happen in a vacuum. There is usually some type of personal crisis going on when folks enter into bankruptcy, something that tips them over the edge and makes bankruptcy unavoidable.