The costs of healthcare go beyond high monthly premiums and co-pays. For many families unpaid medical bill debt problems are growing. Each year the number grows, leading more people into financial ruin. Similarly, many more cannot work and only experience more problems from no income.

Unpaid Medical Bill Debt Problems

A recent survey reports that Americans under 65 have unpaid medical bills. 25% of people under 50 have the largest amount of unpaid medical bills. Also, 20% of those ages 51 to 65 have a lot medical bills. The uninsured rates are also higher for younger adults. Baby boomers are less likely to be uninsured compared to Gen X or Millennials.

People who suffer with chronic or serious medical conditions are more likely to experience medical debt problems. Even with insurance the costs for treatment can go beyond what is affordable. To make matters worse, medical debt can damage credit scores. In some cases medical providers will often arrange for payment plans.  However, they are also quick to send an account into collections. Without warning, people end up with a mark on their credit report from those collection agencies. Further, damaged credit means problems with loans. Once the credit score is damaged people may not be able to recover for several years. This causes their future loans and current interest rates to be unmanageable.

Many families are forced into Sacramento bankruptcy to find debt relief. Nearly 50% of all bankruptcies result from unpaid medical bill debt problems. Fortunately, filing for Sacramento bankruptcy can eliminate medical bills easily. Similarly, medical bills are not tied to any asset or collateral. In many cases, the debtor has little to no difficulty to eliminate medical debt by seeking debt relief.

No one should have to choose between feeding their family or paying a medical bill to keep out of collections. However, it happens every day. If you or someone you know is experiencing problems with medical debt, contact a Sacramento bankruptcy lawyer for help.