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February 2014 Archives

Bankruptcies from medical debt may be on the rise

Washington readers may know firsthand how expensive medical care is and how overwhelming medical debt may be. In fact, medical debt is one of the leading causes for personal bankruptcies, surpassing credit card debt and defaulting on mortgages. Although many Americans may assume that the Affordable Care Act will resolve some of these problems, medical debt may continue to be a problem for many years.

New changes could have impact on paying off medical debt

Medical debt is one of the most common types of debt in the country. As readers in Washington may be aware, medical debt is one of the most common types of debt. After an illness or a sudden accident, many people find themselves unable to pay off the amount left after all insurance money has been exhausted. As a result, some former patients and families could face bankruptcy when the situation becomes unmanageable.

Seeking relief from bill collectors? Consider bankruptcy.

Washington readers know that credit card use can quickly spiral out of control, and soon, many consumers will need to seek ways to get relief from bill collectors. While credit card debt is not the only debt with which people struggle, it is one of the most common problems. When credit card debt becomes unmanageable, how can debtors find relief from bill collectors? One option could include certain types of bankruptcy.

Options for escaping overwhelming credit card debt

Credit card debt is a type of debt that can quickly spiral out of control. Washington readers may know how viscous the cycle of making minimum payments and accumulating interest on balances can be. Overwhelming credit card debt can lead a consumer to consider reaching out for help from a debt relief service. However, it is important to know all options before making a decision regarding professional help.