Medical care and prescription costs have skyrocketed over the years, leading to medical debt. 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. Medical debt is one of the most common reasons that folks file chapter 7 bankruptcy.
Consumers are not well-informed about the choices available and cost of medical services. A restaurant menu or digital display nicely details items that are for purchase including the cost, descriptions such as photos and sometimes nutritional details as well. Based upon the information available, consumers are able to make more informed decisions about their purchases. The sales receipt also allows one to compare the charges with the order to ensure the two align prior to leaving the establishment. If there is a discrepancy in charges, it can be handled on the spot. Unfortunately, there is no such “menu” for medical services.
Being upfront with the cost of medical services becomes more complicated when the same services are billed differently. One of the first questions asked upon entering a medical office or emergency room is, “do you have insurance?” If there is no medical insurance, the total cost for services is typically going to be much lower than for someone who carries health insurance.
After returning home from the doctor’s office, lab, or urgent care, patients are mostly unaware of what the total charges will be. In any scenario, when the medical bills come in, the reaction is often shock, then disbelief and panic. Legislators in Washington D.C. are working to make the system better by potentially forcing prices to be posted online.
For many folks, paying off medical debt is not only difficult, but fiscally impossible. An unexpected medical bill for $500 is a lot of money. Worse yet, that $500 can quickly turn into $5,000, $15,000 or $50,000 in owed medical expenses. Even with good credit, this amount of medical debt can damage a credit score if not paid off quickly. Medical providers will do their best to collect their money, even if it means garnishing wages.
This Wisconsin family turned to Debt Advisors Law Offices to help get them out of medical debt. https://www.cbs58.com/news/wisconsin-family-gets-a-surprise-3k-medical-bill-hospitals-could-post-prices-online
Stop wage garnishments, stop the harassing phone calls, and get help overcoming medical debt through Chapter 7 bankruptcy. Find out how the bankruptcy process works. Start by requesting a free bankruptcy case evaluation today.
Beyond guiding individuals through their financial hardships like Chapter 128 Wisconsin bankruptcy, our firm at Debt Advisors also acknowledges the ripple effect of such burdens on families and the broader community. Recognizing the interconnectedness of financial well-being and societal needs, we not only provide relief for student loan debts in Wisconsin, but also actively participate in community events like the backpack giveaway. Our dedicated team at our Mayfair North Tower location understands the broader societal impacts of financial distress and strives to make a difference, one individual and family at a time.