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Law Office of W. Thomas Bible, Jr.

Medical Debt Archives

Medical debt often goes hand in hand with credit card debt

Despite efforts by various presidential administrations to help Americans obtain quality, affordable health care, millions of people in Tennessee and across the country are underinsured or uninsured. Additionally, 64 million Americans are burdened with medical debt. In fact, medical debt is the primary reason for bankruptcy in the United States.

Personal bankruptcy may eliminate overwhelming medical debt

Many Tennessee consumers whose debt has become unmanageable may find themselves in this position because of unexpected medical expenses. Regardless of whether hospitalization was due to an emergency such as a car accident or a planned surgical procedure, the cost can seldom be anticipated. Furthermore, the various charges on medical bills can be extremely confusing and checking for errors could be difficult. In addition to hospital charges, there are commonly out-of-network charges, co-charges and co-insurance charges on medical bills. In addition, the statements often contain items covered by insurance and deductibles, making medical debt even more confusing.

Medical debt can significantly impact a person's credit

It only takes one visit to a doctor these days to understand that the cost of healthcare in the United States seems out of control to many. It does not take long to accumulate a significant amount of medical debt if a health condition is more complicated than one visit to the doctor can resolve. For people in Tennessee who suffer chronic illnesses or suffer serious injuries in an accident, these unexpected medical costs can easily become overwhelming -- even with health insurance.

Medical debt can negatively affect credit scores

A person’s credit score plays an important role for creditors in determining whether or not a person will be eligible to obtain a loan. Therefore, it is important that one keeps up with his or her agreed upon monthly debt payments in Tennessee in order to maintain a healthy credit score. On the other hand, it may be difficult to keep up with debt payments for debts one does not know exist. This is what happened to one man who was unaware of a medical debt he owed.

Overwhelming medical debt faced by 1 in 3 Tennessee residents

Tennessee consumers may be surprised to learn that most people who are faced with overwhelming medical debt are covered by medical insurance. One would naturally tend to think that uninsured consumers should be most affected by medical debt, but in a recent study this was proved wrong. A concerning finding of the study is the fact that one in every three citizens is struggling to settle medical debt.

Bankruptcy can help get rid of mounting medical debt

Things happen -- people get sick or injured. Most likely, the illness or injury occurs when an individual's regular doctor is not available. This leaves the average Tennessee resident wondering what to do. For many, the obvious answer is a trip to the emergency room. However, some are finding that such a visit can lead to excessive medical debt and financial problems that can ultimately result in serious financial problems.

Medical debt is a common struggle for those in Tennessee

Unpaid medical bills are a common occurrence for Americans. It isn't uncommon for most consumers in Tennessee, and across the nation, to have at least one mark on their credit report for medical debt that has gone unpaid. In fact, a new government study shows that 25 percent of Americans are struggling with medical debt.

New guidelines are being formed to help resolve medical debt

Many Tennessee residents that have medical debt often wonder how long it takes for this debt to make its way to a collection agency. Unfortunately, there is no simple answer with medical debt. Moreover, many residents will receive a medical statement in the mail from a collection agency without ever having received an initial invoice from the physician or hospital.

Medical debt can hurt your credit score

Many people in Tennessee struggle with unpaid medical bills. Medical debt continues to affect millions of Americans, and many consumers have had a medical debt collection on their credit report. The Federal Reserve reports that one in six credit reports in the U.S. have a collection for medical debt. 

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LAW OFFICE OF W. THOMAS BIBLE, JR.
6918 Shallowford Road Suite 100
Chattanooga, TN 37421

Toll Free: 888.769.0365
Phone: 423.933.3627
Fax: 423-553-0639 Chattanooga Law Office Map

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Tullahoma, TN 37388


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