It is so nice to become healthy again after a lagging illness. But the pain goes on when you get your bill from the hospital and doctors. Changes in Washington on health care just aren't going to help and it sure won't help what has already happened.
Medical debt is a huge burden. Collections companies will go to extreme lengths to collect. But you have options to get rid of it. While our post touches on a medical debt giveaway, a more accessible solution is bankruptcy. You do not need to qualify and anyone can take advantage of this remedy.
Numerous research studies and media exposés have provided information about the often-aggressive medical debt collection industry, and a recent report by the trade industry blog Modern Healthcare reveals new details about the often convoluted nature of medical billing that sometimes leaves patients facing lawsuits, garnishments or levies. This report relays a surprisingly common practice of medical debt collectors that has plagued thousands of people around the country and led countless debt-ridden folks to seek bankruptcy protection: the selling of medical debt to companies that file lawsuits en masse in an attempt to turn a profit off the debt.
Many people think that bankruptcy can only be a result of irresponsible spending, but that is a myth. Sure, we all make bad financial decisions from time to time and sometimes this can come back to haunt a person, but the leading cause of bankruptcy isn't reckless spending. It's medical debt.