Rising costs and declining insurance benefits continue to plague many Americans. Even a run-of-the mill medical event can generate huge bills. A catastrophic injury, chronic illness or major surgery can bring much worse.
If you are struggling with medical debt, then you need not feel alone. According to a 2013 report from NerdWallet, 56 million Americans have medical debt problems, and the leading cause of personal bankruptcy in the United States was medical debt.
Whenever a seemingly wealthy individual files for bankruptcy in Minnesota, many are often shocked. The thought is typically that once someone becomes wealthy, money will never again be an issue. However, this is not always true and there are plenty of people who struggle to keep up with their expenses after becoming wealthy.
It is officially springtime in Minnesota. That time of year when parents are busy touring colleges with their teenage sons and daughters, trying to figure out what the most realistic school is for their children. For many, while of course getting accepted plays a role, so does the cost of the college.
There is no doubt that a medical crisis can lead to sudden and unexpected debt for any Minnesota resident. This is particularly troubling, as not only is the actual medical condition stressful enough, but so is dealing with a seemingly constant stream of bills and calls from bill collectors.