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Financial struggles can easily stem from medical debt

Facing financial struggles can be a substantial source of stress and unhappiness in Texas residents' lives. Unfortunately, even individuals who believed their financial situations to be relatively put together can face unexpected expenses that leave them wondering how they will pay. Medical debt in particular can leave many people feeling the challenges and anxieties of dealing with bills.

Certainly, when an uninsured individual faces a medical emergency, struggling with expenses may be expected. However, even patients who have medical insurance can still have a difficult time paying off their remaining balances. The feelings that come with getting medical bills reportedly have 53 percent of people across the country feeling as if the bills are just as bad as facing a serious medical issue.

Of course, some parties who are already in difficult financial spots may struggle even more with medical bills. Reports indicated that 37 percent of individuals did not feel as if they could cover medical expenses that go over $100. This statistic was broken down further with 44 percent of women indicating that this amount would put them in debt while 27 percent of men indicated the same.

Medical debt is a rampant issue that may affect many Texas residents who continue to struggle in hopes of paying their bills on their own. However, they may wish to consider a relief option that numerous other people have already taken advantage of. Information on bankruptcy and speaking with experienced attorneys may help concerned individuals determine whether taking this course of action could help them better their financial situations.

Source: fool.com, "More Than Half of Americans Fear Medical Bills as Much as Health Issues Themselves", Maurie Backman, Feb. 5, 2018

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