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| Unexpected High Medical Bills After a Car Accident |
After
even a minor car accident, medical bills can quickly pile up. According to the
Consumer Financial Protection Bureau report, unpaid medical debt is a problem for 20
percent of Americans.
A spokesman for the National Foundation for Credit Counseling, Bruce McClary, said, "The stress of this debt is overwhelming to many people. Often, consumers just shut down due to fear and anxiety associated with getting collection letters in the mail."
The American Journal of Medicine published a study in 2009 showing that over 60 percent of all bankruptcies are at least partially related to medical expenses. This is the case, even though the vast majority of those who filed for bankruptcy had health insurance.
A recent survey by Bankrate.com verified this through their findings, also showing that over 60 percent of Americans are unable to cover unexpected medical expenses, even when costs are as low as $500 or $1000. Despite health insurance, leftover costs are most often not manageable.
A spokesman for the National Foundation for Credit Counseling, Bruce McClary, said, "The stress of this debt is overwhelming to many people. Often, consumers just shut down due to fear and anxiety associated with getting collection letters in the mail."
The American Journal of Medicine published a study in 2009 showing that over 60 percent of all bankruptcies are at least partially related to medical expenses. This is the case, even though the vast majority of those who filed for bankruptcy had health insurance.
A recent survey by Bankrate.com verified this through their findings, also showing that over 60 percent of Americans are unable to cover unexpected medical expenses, even when costs are as low as $500 or $1000. Despite health insurance, leftover costs are most often not manageable.
