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medical debt Archives

Why medical debt is a leading cause of bankruptcy

In 2016 alone, the United States saw 770,946 personal bankruptcy filings. Although there are many reasons a person may file for bankruptcy, medical debt continues to be a leading cause of this debt relief option in Texas and across the country. Contrary to popular belief, those who are insured may also experience high levels of this type of debt.

Strategies for managing medical debt

Many people struggling with medical bills may wonder what their options are for repaying them, especially if those debts are seemingly beyond their means. Medical debt is very common in Texas, and many turn to experts for advice on how to manage the expense. While there are some ways to minimize the financial burden, bankruptcy may be an option for those who are unable to manage the debt over time.

Medical debt may cause Texas residents to second guess treatment

Receiving a cancer diagnosis can be one of the most frightening experiences of a person's life. As he or she battles through the difficulties such a disease can have, fearing for life is not an unrealistic feeling. On top of these difficulties, expenses relating to treatment continue to mount, and even if individuals do make it to remission, they may still face overwhelming medical debt.

Members of Generation X struggle with medical debt more than most

Having a medical issue can be a stressful experience. Many Texas residents may wait apprehensively to learn what the exact problem is and how -- or if -- it can be treated. Unfortunately, the stress that comes from these factors is not the only type of stress that can accompany medical problems. Most individuals experience considerable stress from the resulting medical debt as well.

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.

Beware your clinic’s medical credit card plan

The cost of everything medical-related, from surgeries to check-ups, can rise to extraordinary heights. Many Texas residents simply can’t afford the healthcare that they need with or without insurance. Although they can’t pay for a procedure, they still know that their health is one of the most important things to protect in life.

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