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A single unexpected event can have serious consequences

Unexpected medical conditions and tragic accidents can have serious, long-term financial consequences that far exceed the immediate health trauma such events can bring about. Much of this is the result of the exorbitant costs associated with healthcare in the United States. In fact, as Tennessee readers already know, medical debt and healthcare costs are the number one cause of personal bankruptcy in the United States today.

Few consumers are surprised to learn that medical bills are so closely associated with filing for bankruptcy in the U.S. What does surprise some people, however, is that this does not only include the bills of the uninsured. In fact, many consumers find themselves struggling with medical expenses even when they have insurance. The reason for this is that many insured citizens still have co-payments and deductibles.

While health insurance certainly makes matters more manageable, anyone can find themselves struggling to manage medical debt. A single accident or unexpected illness can leave a consumer with thousands of dollars in medical bills. It is also easy for these financial challenges to get out of hand if a consumer does not have savings. The medical bills subsequently get put on a credit card and then the tragic cycle begins.

If readers find themselves struggling with serious financial challenges due to medical bills and healthcare costs, it could be helpful to call a bankruptcy professional to discuss debt relief options. Getting on top of debt sooner than later is vital. It will save everyone in the process a whole host of headaches and heartaches. Consumers may be surprised to learn just how many debt relief options are available.

Source: Daily News, "Medical bills No. 1 cause of bankruptcy in America," Dave Ramsey, Sept. 25, 2013

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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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