For the most part, individuals in Tennessee and elsewhere care about their health. Unfortunately, costs associated with health care can get costly. And when the unexpected happens, such as an injury, illness or necessary surgery, these expenses can be overwhelming. Medical debt can create major financial hardships for individuals and families, requiring them to seek financial relief.
There are many events in life that individuals can successfully plan for. With consideration and time, some people can put enough money away to eventually leave their jobs and retire. Others may be able to save some cash so that they can help their kids or grandchildren through college. When money is tight, though, saving may be a luxury that may be unachievable.
Tennessee is known for many of its positive attributes. Nashville is a hub in the music world, and the state's natural beauty draws visitors from across the nation each year. However, despite the many great things that Chattanooga residents know about their home state, there is one fact that may both surprise and sadden them: Tennessee ranks first in the nation in medical debt bankruptcies.
Medical costs in the United States are astronomical and many Tennessee families struggle to pay their bills when hospitals, doctors, and practice groups send their invoices and statements. Whether their bills derive from unexpected medical emergencies or standard appointments and procedures, individuals can find themselves buried in debt from simply taking care of their health. For some, medical debt can be the reason that they choose to file for bankruptcy and seek other methods of eliminating their outstanding obligations.
For most people, having a job is a necessity. Without gainful employment they cannot keep food on their tables, rooves over their heads, and clothing on their backs. However, when it comes to finding work, many Tennessee residents also look for job opportunities that provide them with benefits like health insurance.
The human body is an amazing thing, but not everyone knows exactly what ailments and conditions may be lurking just below their own skin. Even when Tennessee residents stay on top of their health and meet regularly with their doctors, they may suffer surprising reactions and conditions that are unlike anything they have every experienced.
It is never fair for a hardworking individual to have to choose between paying to keep a roof over their head and having a necessary medical procedure that will improve their health. However, this is just what some government workers have to do because of the ongoing shutdown of the federal government. Tennessee residents may know someone facing just this problem or might be suffering from it themselves.
There is no question that the quality of medical care that a Tennessee resident will receive when they suffer an illness or injury will be superlative. Hospitals throughout the state and the country are equipped with the best doctors and technologies in the world to provide patients with state-of-the-art care. However, having the best and being at the forefront of medical advances is expensive, and unfortunately patients are often left carrying the costs of the treatments and procedures they need to protect their health.
Different types of debts can have different priorities. Depending upon the type of debt that a Tennessee resident holds, their creditors can pursue different methods of seeking the collection of the debtor's obligations. If a debt is secured then there is property that may be reclaimed in satisfaction of the debt. For example, a car loan is a secured debt because the lender can repossess the debtor's vehicle if they stop making payments on their loan.
Many medical procedures cannot be avoided. When Tennessee residents must undergo surgeries or other treatments to save their lives and maintain their health, they may not have money saved to take care of the bills they will later receive. This can cause patients to incur medical debt, a leading cause of financial stress for many Americans.