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How to fight mounting medical debt

On Behalf of | Jul 20, 2021 | Medical Debt, Medical Debt

If you are like many Americans, you probably feel a lot of pressure to pay off your debts. Unfortunately, you may have a medical debt to pay off too.

Medical debt is common but devastating to a lot of adults and families.

Understand the problem of medical debt in the U.S.

Did you know that at least a third of Americans have medical debt? In fact, about 28% of those with debt have a balance over $10,000. In a CNBC survey, almost half of all respondents claimed to feel stressed about health care costs. People have to dip into their savings to try to pay for medical costs.

If you have medical debt, you are not alone. If people do not have a medical debt of their own, the odds are that they help pay off another member of the household’s debt.

Beat the stress of medical debt

If you struggle with medical debt, you do not have to live with it. Healthcare costs, housings costs and other expenses continue to rise. Even if your salary continues to rise, it does not guarantee that you will not spend a large percentage of your paycheck every month on medical debt.

A lot of people try to avoid the doctor because of overwhelming medical debt. Instead of risking your health, you have to learn how to get out from under debt. Filing bankruptcy can help you with debt relief from medical bills. When you file, you receive automatic protection from harassing calls from collection activities.

In addition to medical debt, you can address other issues that may be stacked on top of it.

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The Law Office of Kim Covington is a debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 22 years.