Medical debt is a significant concern for many individuals, regardless of age. Even young adults in Oregon are vulnerable to this financial burden despite their youth. Several factors contribute to their susceptibility to accumulating medical debt. Limited insurance...
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Medical Debt
Should you file for bankruptcy because of medical debt?
Medical debt creates a difficult financial situation for many American families. Filing for bankruptcy could be a solution to mounting hospital bills you cannot pay. Considering all factors can help you decide whether you should pursue bankruptcy for significant...
Average cost of medical procedures in the United States
Medical care in the United States can be incredibly expensive. Someone may not have any choice but to accept this care if they have been injured, but that doesn’t mean that they can afford it. This is why medical debt is one of the top reasons why people declare...
Study: Most hospitals still use “extraordinary collection actions”
The last thing you need after suffering a serious injury or illness is to have the hospital sue you over your medical debt, garnish your wages or put a lien on your home. However, that’s what’s happening in many cases, according to a new study from Kaiser Health News...
3 ways to tackle medical debt
After receiving surgery or another type of treatment, many patients dread looking at their medical bill(s). That’s because about 41 percent of American adults owe between $500 and $10,000+ in medical debt. And for some, health insurance isn’t enough since it only...
What you need to know about credit scores and medical debt
No one looks forward to falling ill or getting hurt in an accident – or the big medical bills that follow. The medical debt can be compounded if you happen to be out of work due to your condition, especially if that affects your insurance entitlement. But how does...
Medical insurance doesn’t mean zero medical debt
Healthcare in the United States operates on an insurance basis. While it may be tempting to think that this means people don’t rack up medical debt, the truth is actually very different. Medical debt is one of the most common causes of debt and bankruptcy in the...
How do you handle unexpected medical expenses?
Like most Americans, you may be carrying a lot of debt. A mortgage, car payments, credit card payments, utilities, and living expenses take up most of your paycheck, leaving little for savings. So what do you do when an unexpected medical expense pops up and adds...
How your credit and medical debt relate will soon change
For some people, medical bills are a primary derogatory mark on their credit report because they were in collections. Those medical bills often pushed people to file for bankruptcy so they could get a fresh financial start. Starting in July, Equifax, Experian, and...
Medical debt can take over your life
Medical debt can overtake the average American household with little warning. Even those who have health insurance can wind up with big medical debts. They could require cancer treatments that their insurance company doesn't cover or have coinsurance that requires...
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The Law Office of Kim Covington, is a woman owned debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 24 years.