Medical debt is a major reason that people file bankruptcy. The Consumer Financial Protection Bureau indicates that $88 billion of outstanding medical bills are currently in collections-affecting one in five Americans. According to U.S. News & World Report, many...
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Medical Bills and Bankruptcy
Can I Get Rid of My COVID-19 Medical Debt in Bankruptcy?
There have been many news stories about people receiving large bills as a result of COVID-19 care. Hopefully you are not one of them. This really causes double financial problems-loss of income as a result of being sick and medical bills. Sometimes this result from...
Solutions to Crushing Medical Debt
There isn't a person in this country who wants to have a serious medical condition, suffer a traumatic injury, or require ongoing medical treatment. Beyond the physical and emotional tolls that come with medical ailments, medical care is expensive. In fact, medicine...
Proven Bankruptcy Counsel: Strong Advocate Against Medical Debt
When medical debt rears its ugly head, what emerges as immediately notable are the disturbing numbers associated with it. Here are just a few. Statistics supplied by the national health policy group Kaiser Family Foundation indicate that more than 30 percent of all...
Retirement and Medical Costs Top List of American’s Financial Concerns
When contemplating retirement, many New Jersey residents likely look forward to traveling, playing golf and spending winters in a more temperate climate. Retirement has long been considered a time when, after years spent working, individuals are finally able to relax...
How Balance-Billing Is Contributing to America’s Medical Debt Problem
According to the Kaiser Family Foundation, an estimated 33 percent of Americans struggle to pay medical bills. No one is immune to medical debt and many of those who report having difficulty paying medical bills are insured through job-based group plans. However, even...
As Health Care Costs Increase, Americans’ Credit Scores Decrease
In recent years and months, the state of the U.S. health care system has been the center of much public and political debate. While many New Jersey residents likely have their own opinions related to health care access and costs, few understand the reality of the...
Medical Bills Reported as #1 Cause of Personal Bankruptcy
We recently discussed the link between healthcare costs and bankruptcy in our blog titled "Medical Issues Can Lead to Bankruptcy." According to CNBC, recent studies by NerdWallet Health, show startling statistics revealing that healthcare is the leading cause of...
Medical Issues Can Lead to Bankruptcy
A recent study performed by researchers from the Fred Hutchinson Cancer Research Center in Seattle revealed that cancer patients were twice as likely to file for bankruptcy as individuals without cancer. The report linked bankruptcy court records and information from...