Dealing with overwhelming medical debt in Florida
Many people who have large medical bills find themselves unable to pay them. Even if someone has insurance and a high-paying job, medical bills can still pile up. Individuals may have to meet a very high deductible before their insurance kicks in, and insurance does not always pay for 100 percent of the medical bills. Additionally, some insurance plans have caps on what they will pay out each year.
For people without insurance or a steady income, the issue of medical debt can be worse, and debt can accrue even faster. Even with state and federal programs geared towards helping lower-income individuals, many people fall through the cracks and end up with large bills from doctors, hospitals and medical facilities that they cannot easily pay off.
The issue is bad enough that it is estimated that 40 percent of those who file for bankruptcy do so due to medical debt. This type of debt can lead to a number of problems for people, including calls from collection agencies, damage to their credit report and trouble obtaining credit due to a reduced credit score. The good news is that there are a number of options available to people who are struggling with large amounts of unpaid medical bills, including filing for bankruptcy.
Our firm is familiar with the issues that medical debt can cause, and we can help you figure out the best way to deal with what you owe. We can assist you in determining if a repayment plan is best or whether you should consider filing for bankruptcy. For more information about dealing with medical debt, visit our page on the subject.