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Outstanding medical debt can be absolved by filing for bankruptcy

Despite your own or your family's best efforts, medical emergencies can still happen. Whether this is due to an injury sustained in a sudden accident like a car accident or a work accident or a diagnosed illness - the medical bills can be substantial. Beyond immediate care, there are often costs associated with medication and rehabilitation that may leave the injured and their family with many out-of-pocket costs. All of these medical expenses can leave a family knee-deep in medical debt.

Medical debt is a term given to any type of debt resulting as the after-math of medical necessity. It can happen from the actual costs of medical care, like medical bills or pharmacy bills, or it can be from expenses related to medical care like transportation. These costs can add up quickly and can compound, especially if lost wages enter the equation. Those suffering under the weight of medical debt can feel overwhelmed with the state of their finances.

The good news is that medical debt can potentially be absolved by a few different tactics. One of those tactics is filing for bankruptcy. Depending on one's personal financial situation, the specialists at Mark T. Young Associates can help to discover if perhaps Chapter 7 or Chapter 13 bankruptcy is a beneficial and viable option to resolve medical debt. This can especially be crucial to families who have no health insurance and suffer a medical incident leaving their finances in an unfavorable position.

Regardless of the medical incident that left you or loved ones with medical debt, there are ways to rectify the situation. An unexpected medical condition or accident injury can really turn life upside-down for Chattanooga families. There ways to turn it right-side-up again. Being proactive about your finances can really make all the difference in discovering a more manageable financial situation.

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Mark T. Young & Associates
2895 Northpoint Blvd.
Hixson, TN 37343

Toll Free: 888-376-0282
Phone: 423-933-1606
Fax: 423-877-0363
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