PRESS-NEWS.org - Press Release Distribution
PRESS RELEASES DISTRIBUTION

Medical Debt Responsible for Increasing Share of Texas Bankruptcies

In the aftermath of the recession, medical debt is playing a large role in Texas bankruptices. Here are some tips for managing medical debt.

2012-10-20
October 20, 2012 (Press-News.org) It is a sad and unfortunate truth that medical expenses have skyrocketed over the last several years. The fact that so many people have lost their jobs -- and thus their health insurance -- during the recession has only made matters worse.

Of course, a serious illness or injury can be financial devastating, even for people who have insurance. Between copays, deductibles and benefit caps, it does not take long for the bills to spiral out of control. Indeed, medical debt is now one of the leading causes of consumer bankruptcy, both in Texas and throughout the United States.

According to an article published in the New York Times, approximately 20 percent of people who sought credit counseling -- a precursor to filing for bankruptcy -- in 2011 did so primarily because of overwhelming medical debt. By comparison, the rate was about 12 to 13 percent in 2009 and 2010.

Medical bankruptcies present some unique issues. For example, many people tend to be reluctant to default on their medical bills. Even though they do not have the money, they want to pay the doctors who worked to make them well. Instead, they rely on credit cards to make up for the money they spent on their medical bills.

Though this may help solve the short-term problem, over time, interest rates and late fees compound to the point where even the minimum payments are no longer manageable. The problem is even worse for individuals whose illnesses or injuries are so severe that they can no longer work.

It is important to remember that bankruptcy exists for this very reason. No one should ever have face financial ruin simply because they got hurt or became ill. Bankruptcy law is set up to protect people and help them get back on their feet.

Tips for Handling Large Medical Bills

Bankruptcy does not necessarily need to be a person's first option, though. Often, large medical bills can be managed with some proactive steps. If you have recently undergone significant medical treatment, you may want to consider the following tips:
- Check your bills: It is not rare for billing mistakes to be made. If your bill seems high, check it against your Explanation of Benefits statement to make sure you are only getting billed for the care you actually received.

- Ask for a discount: This is especially true if you are uninsured, as many health care providers negotiate lower rates with insurance companies than they charge to individual consumers. If you explain your situation and ask for a discount, they might work with you.

- Set up a payment plan: Sometimes a bill that is too big to be paid at once can be broken down into more manageable chunks. Be sure to get the agreement in writing, though, so you don't run into more trouble down the road.

- Don't ignore problems: If bills are piling up and creditors are calling, the worst thing you can do is ignore them. Your account will likely be turned over to a collections agency, which can have a devastating impact on your credit score.

If you are struggling with medical debt, know that there is help out there. A Texas bankruptcy attorney can evaluate your situation and help you understand your options.

Article provided by Davis Law Firm
Visit us at www.jeffdavislawfirm.com


ELSE PRESS RELEASES FROM THIS DATE:

Serious Car Accidents More Likely During Holidays and the Summer

2012-10-20
To a certain extent, the risk of encountering a dangerous or deadly traffic accident is always present. No matter what day it is, some drivers will make the choice to get behind the wheel after drinking alcohol, taking drugs or not getting enough sleep. Others will take their eyes off the road to send a text, program their GPS or play with the stereo. Add in speeders, red light-runners and a whole host of other dangerous but common behaviors, and it begins to become clear why 1,200 people were killed and another 12,800 were seriously injured in New York motor vehicle accidents ...

Supreme Court Reverses Third Circuit's Decision on Credit Bidding

2012-10-20
The Supreme Court of the United States has reversed a ruling of the Third Circuit Court of Appeals on a Chapter 11 bankruptcy issue known as credit bidding. The Supreme Court unanimously ruled that Chapter 11 reorganization plans cannot sell the property of a secured creditor without giving that creditor the opportunity to credit bid on it. Two Important Terms: Credit Bidding and Cramdown In order to understand the Supreme Court's recent decision, it is necessary to understand two key Chapter 11 bankruptcy terms: credit bidding and cramdown. In the Chapter 11 bankruptcy ...

Female Crash Test Dummies Now Used in Car Safety Tests

2012-10-20
Car accidents have the potential to cause very serious injuries. Although nothing can completely erase the risk of harm that comes with a crash, good vehicle design can go a long way to minimize the severity of crash victims' injuries. Most people are probably aware that automobile manufacturers use crash-test dummies to measure the risk of injury in a car accident. These measurements are then translated into consumer safety ratings. However, many people may be surprised to learn that most of these safety rankings apply only to average-sized males. Until recently, automakers ...

National Safety Groups Promote Construction Fall Prevention

2012-10-20
Construction zones are inherently dangerous, with job duties that often require working at extreme heights. Every year, 225 construction workers die and another 10,000 are injured in preventable falls. In 2010, 264 out of 774 total construction worker deaths were caused by falls. Now, several safety agencies, including the Occupational Safety and Health Administration (OSHA), have launched campaigns to prevent falls and construction worker deaths. Safety Groups Team Up for Construction Fall Safety OSHA, the National Institute of Occupational Safety and Health (NIOSH) ...

Possession of Child Pornography Sentences Often as Severe as Sexual Abuse

2012-10-20
The sexual abuse of children is a serious matter. Public discussion has most recently centered on the Penn State scandal as many within the media debate the proper punishment that should be served not only against Jerry Sandusky but against the university as well. While this discussion is taking up media attention, another related discussion is gaining momentum among legal and legislative professional communities. This controversial topic focuses on the fact that over the past 22 years federal sentences for the possession of child pornography have increased dramatically, ...

Uninformed Students Have Highest Risk of Credit Card Troubles

2012-10-20
There's no doubt about it, going to college is expensive. Between rent, food, books and the ever-increasing price of tuition, many Texas students find it hard to make ends meet. Since few students have the time to work as many hours as it would take to support themselves and still do well in school, many go into debt to pay the bills. When student loans don't provide enough support, they turn to credit cards. Although credit cards can be helpful for college students, they can also be very dangerous if not used carefully. A few mistakes or missed payments could start ...

More Employers Failing to Pay Proper Wages and Overtime in Florida

2012-10-20
American workers are filing more lawsuits against employers than ever before. In 2012, wage and hour lawsuits are the highest they have been in 20 years. As of March 31, 2012, there were 7,064 federal wage and hour cases filed compared to the 1,184 cases filed in 2000. What are Wage and Hour Lawsuits? The federal Fair Labor Standards Act (FLSA) and Florida state's employment laws dictate an employee's rights, as well as the legal remedy to enforce those rights. For example, in Florida: - Workers must be paid a minimum wage of $7.67. - Employees who receive tips ...

State Farm Under Investigation for Texas Hurricane Ike Insurance Denials

2012-10-20
When you purchase insurance and pay your premiums every month, you expect that the insurance company will uphold its end of the bargain when a loss occurs. Unfortunately, this isn't always the case. Like all businesses, insurance companies are concerned about protecting their bottom lines. Sometimes, they try to save money by wrongfully denying valid claims. When it comes to dealing with insurance companies, small injustices happen every day. However, when a big event hits, it is much easier for insurance bad faith to be brought into the light. As a case in point, ...

Florida Man Fired for High Medicals Costs for Daughter's Cancer Treatments

2012-10-20
A Florida man has sued his employer for wrongful termination, claiming that he was fired, not for falsifying time sheet records, as the company claims, but because of his daughter's high medical costs. The case shows employees that it is possible to hold employers responsible for wrongful termination. Man Asserts He Was Fired Due to Daughter's High Medical Expenses The Palm Beach County man was fired at his job at a bank on the pretext that he falsified his timesheet. However, the man believes the real reason he was let go was the high cost of his late daughter's ...

Poor Crash Test Ratings Should Put Nevada Car Buyers on Alert

2012-10-20
Recently, the Insurance Institute for Highway Safety (IIHS) put 11 luxury vehicles through a new test called the small overlap test. The results were rather disturbing: Only two vehicles earned a "Good" rating and several rated "Poor", including at least one current IIHS "Top Pick" for safety. The IIHS Luxury Car Safety Tests The small overlap test evaluates a vehicle's ability to withstand an impact to the driver's side front corner. This is the type of motor vehicle accident can occur, for example, when a vehicle crashes into a telephone ...

LAST 30 PRESS RELEASES:

Study: suppressing key protein may unlock immunotherapy for Glioblastoma

Early surgical intervention in children with sleep-disordered breathing reduces need for doctor visits, prescriptions

Statin use and risk of hepatocellular carcinoma and liver fibrosis in chronic liver disease

Gender-affirming hormone therapy and depressive symptoms among transgender adults

Surgery in kids with mild sleep-disordered breathing tied to fewer doctor visits, meds

Magnetic microalgae on a mission to become robots

Impact journals to participate at the AACR Annual Meeting 2025

Webb telescope captures its first direct images of carbon dioxide outside solar system

NIH-sponsored trial of Lassa vaccine opens

Pro-life people partly motivated to prevent casual sex, study finds

Top locations for ocean energy production worldwide revealed

New AI model analyzes full night of sleep with high accuracy in largest study of its kind

Combination of cosmic processes shapes the size and location of sub-Neptunes

New study shows regular exercise pre-hospitalization is linked to better outcomes in heart failure

New discovery in plant–pest warfare could lead to sustainable farming solutions

Make Indian sign language an official language and open more schools for deaf and hard-of-hearing students, Cambridge study advises Indian government

Deep dive into space turns up new Spitzer bubbles

Attention can be used to drive cooperation – new study

A post-treatment blood test could inform future cancer therapy decisions

Bridging Nature and Nurture: Study reveals brain's flexible foundation from birth

Newborns with heart defects may face a higher risk of developing childhood cancer

Continued medication important for heart failure patients

Tools to succeed: Learning support for new nurses

A breakthrough in green hydrogen peroxide production: KIST develops carbon catalyst utilizing airborne oxygen

Travellers: beware of Oropouche virus. Is it the next Zika?

No increased death rates, admission differences for people experiencing homelessness with severe COVID-19

Optimizing public placement of naloxone kits to save lives

Burden of cardiovascular disease caused by extreme heat in Australia to more than double by 2050

Who does Darth Vader vote for? Not the same party as Harry Potter

Ground breaking advances in construction robotics in extreme environments unveiled in review

[Press-News.org] Medical Debt Responsible for Increasing Share of Texas Bankruptcies
In the aftermath of the recession, medical debt is playing a large role in Texas bankruptices. Here are some tips for managing medical debt.