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According to an August 2020 report from Credit Karma, medical debt has grown nearly 10% since 4Q 2019. COVID-19 medical bills contribute greatly to the increase. A quarter of that new debt is related to hospitalization, and to our elderly population who live on fixed incomes. Bankruptcy For Medical Debt Medical debt has long been…

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Which Generation Is More In Debt? The number of older Americans filing bankruptcy is growing and Gen X is no exception. Gen X represents one of the most vulnerable generations of debt and could be facing more financial trouble than Boomers, Millennials or Gen Z.  Although they have displayed many strengths and have overcome major…

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Ch.7 Bankruptcy to Discharge Medical Debt Medical care and prescription costs have skyrocketed over the years. Many folks are receiving medical treatment without a clue of how much it will cost them.  When the medical bill finally does arrive, the reaction is complete shock and disbelief. Consumers are less informed about the choices available and…

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Many recent studies have been done over recent years to determine who files and why. Most people who file bankruptcy carry some form of medical insurance, have an education, and are employed. Research findings repeatedly conclude that un affordable healthcare services lead to medical bills that cannot be paid; a common situation that explains why…

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