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Bankruptcy Help For Everyday People

An unexpected medical bill would be a huge setback for many

| Apr 6, 2017 | Medical Debt |

No one is ever really prepared to deal with an unanticipated medical situation in Durham. When an emergency arises, your first priority is to seek treatment. Only after the dust settles may it occur to you that you may not be able to afford the bill. At Wootton & Wootton, P.C., we understand that struggling with medical expenses can be stressful and overwhelming.

One way that people can avoid incurring debt to pay for a doctor’s bill is to use money from savings. However, if you do not have any money saved up for unexpected medical bills, you are far from alone. According to CNBC, a recent survey found that a medical bill of more than $100 would cause 37 percent of people to have to go into debt. Another poll found that there are 66 million people in this country have no savings they can turn to should a medical emergency arise.

This comes at the same time that health care costs are on the rise. 74 percent of people polled said their expenses have increased in recent years. Unaffordable costs and invoices are so stressful that many people would rather another scenario. Being hit with a medical bill that is too expensive was reportedly considered worse than receiving a serious diagnosis, according to 63 percent of respondents.

Because of things like high deductibles and out of network services, having insurance is no guarantee that you will not incur medical-related debt. That is why doctors’ bills are a leading cause of people filing for bankruptcy. For more information on dealing with unaffordable health care expenses, please visit our web page.