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Medical debt affects even those in South Carolina with insurance

It may be frustrating for many who struggle to keep their finances in order to hear accusations that they have reached this situation because of their own careless spending. Hearing advice to curb spending sprees and discipline their shopping habits may serve only to increase the stress for someone in South Carolina who is burdened with debt that has little to do with self-indulgence. In fact, medical debt remains the number one reason why Americans file for bankruptcy.

Medical debt can burden anyone in South Carolina

It is not always the working class who find themselves losing control of their finances. In many cases, even those in South Carolina who have health insurance and financial resources may face desperate times if a chronic or serious illness leaves them with overwhelming medical debt. In fact, one of President Trump's advisers once filed for bankruptcy due to mounting medical bills.

Medical debt attorney provides options for overwhelmed patients

Following an accident or illness, the two questions foremost in many patients' minds are, "When will I get better?" and "How am I going to pay for this?" Struggling with medical debt can seem like pain on top of pain, and financial advocates offer a few tips to avoid such debt. Patients in South Carolina have several options, including consulting a medical debt attorney.

Tax refunds pay medical debts in Columbia, South Carolina

Few people look forward to tax time. After following the formulas and figuring out the bottom line, or paying someone to do the figuring for them, many people have the unhappy chore of writing the government a check for the taxes they owe. However, some taxpayers in Columbia, South Carolina are fortunate enough to expect a refund from the IRS. A recent report by JPMorgan Chase Institute reveals what many people do with that tax refund.

Bankruptcy: A lifesaver for those drowning in medical debt

Are you drowning in medical debt? If the frequency and cost of the medical bills that are filling your mailbox after a prolonged illness or emergency are overwhelming, you are not alone. Even those with health insurance find that the cost of health care is steep, and that cost could have a severe impact on even the most financially stable South Carolina families.

Medical debt hits more in South Carolina and southern states

While these days more people may be able to afford health insurance, many of those policies include high deductibles. These deductibles may cost a patient thousands of dollars before coverage kicks in. In fact, about 25 percent of working adults in South Carolina and across the country admit to having medical debt that is past due.

South Carolina medical debt ranks high among collections calls

A person with a chronic or progressive illness often requires frequent doctor visits, appointments with specialists and expensive medication. Similarly, an accident or acute condition may also result in costly procedures or treatments. Even with recent affordable medical insurance laws, out-of-pocket health care expenses can accumulate quickly, especially if a person in South Carolina has a high deductible, minimal coverage or no insurance at all.  

Do not let medical debt ruin your life

If you have been sick or were hurt in an accident, you know how difficult a lengthy recovery can be for you and your family. In addition to the pain, the medical treatment and the emotional stress, the medical bills that follow an emergency or prolonged illness can quickly overwhelm your family.

Bankruptcy may assist South Carolina residents with medical debt

Many factors can contribute to individuals having a difficult time staying on top of their finances. Medical debt is a common reason that individuals in South Carolina and across the country find themselves overwhelmed financially. For individuals facing such a situation, considering bankruptcy may be a prudent step to take in hopes of getting back on track financially.

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