You’ve had your share of medical problems all your life, but they were nothing you couldn’t afford to pay for before. Now, however, you or one of your family members have been dealing with a medical issue that is bigger and worse than anything else you’ve ever encountered. This time, the cost of treatment and care is far more than you can afford to pay. With the medical debt mounting, you feel you will never recover. Thankfully you and other Tennessee residents in your same situation may be able to utilize bankruptcy to achieve relief.
Many Americans are dealing with medical debt. Insurance only covers so much. The cost of medical tests, procedures and care continue to rise at staggering rates. The average person simply cannot afford to cover a major medical expense. Some health care providers are willing to work with their patients by setting up payment plans, but even then, sometimes the balances owed are simply too much.
When faced with significant medical debt, there are a few things you can do about it. First, you can make minimum payments for years, hoping to pay off the debt eventually. You can refuse to pay and have to deal with creditor harassment and hits to your credit rating. Finally, you can pursue bankruptcy or other debt relief options. What you do is completely up to you.
At the end of the day, a bankruptcy filing can offer Tennessee residents immediate relief of medical and other debts. It can put an end to creditor harassment and help you achieve a fresh financial start. To learn more about how bankruptcy may benefit your situation, please visit our firm’s website.