Nearly 1 in 5 Americans Have Substantial Medical Debt

March 13, 2018 Posted by kingcade

Medical debt is a leading cause of personal bankruptcy in the United States.  Even if you recover from the illness, the medical debt can remain.  This can be made even worse by constant calls from debt collectors.  If you are struggling with medical debt, you are not alone.  Nearly one in five Americans has delinquent medical debt on their credit reports.

Many times this medical debt can be bought and sold for pennies on the dollar. For example, a collection agency can spend ten dollars to purchase $1,000 worth of debt. Yet, the collectors will still attempt to get the full amount from people who owe the debt.

You may be tempted to ignore a medical debt lawsuit and hope it goes away, but this is one of the worst things you can do because the debt collector will automatically win by default.  There are steps you can take if you are facing a medical debt lawsuit.

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Those who have experienced illness or injury and found themselves overwhelmed with medical debt should contact an experienced Miami bankruptcy attorney. In bankruptcy, medical bills are considered general unsecured debts just like credit cards. This means that medical bills do not receive priority treatment and can easily be discharged in bankruptcy. Bankruptcy laws were created to help people resolve overwhelming debt and gain a fresh financial start. Bankruptcy attorney Timothy Kingcade knows how to help clients take full advantage of the bankruptcy laws to protect their assets and get successful results. Since 1996 Kingcade Garcia McMaken, P.A. has been helping people from all walks of life build a better tomorrow. Our attorneys’ help thousands of people every year take advantage of their rights under bankruptcy protection to restart, rebuild and recover. The day you hire our firm, we will contact your creditors to stop the harassment. You can also find useful consumer information on the Kingcade Garcia McMaken website at www.miamibankruptcy.com.