Medical debt is one of the biggest driving forces behind bankruptcy filings. Sadly, many people who seek out healthcare don't know the true expense they face given that medical costs and insurance policies are often cloaked in secrecy. Very rarely can an individual obtain an accurate estimate of his or her medical expenses before they are incurred. This often means that while people may be doing what is best for their health, they may be wreaking havoc on their financial future.
Since many of these medical debts are exorbitant, a lot of Texans are unable to pay them. When these individuals don't make good on their medical debts, hospitals often send those accounts to collection agencies or sell them to debt collectors. These debt collectors can then go to extreme measures in an attempt to recoup balances owed, including utilizing social media as a way to connect with and track down those who owe.
This is a common story across America. In fact, about half of all overdue debt on credit reports is attributable to medical expenses. Although many debt collection attempts start off with low pressure tactics, such as by asking if a bill has simply been misplaced, these tactics can quickly escalate to techniques that are much more aggressive in nature. While creditor harassment is a very real issues faced by many Texans, so, too, are debt collection lawsuits that seek to garnish wages and place liens on personal property.
America's healthcare system is complicated, and far too many Texans are taken advantage of as a result. Although many individuals valiantly try to pay off their debts to protect their credit score and their pride as much as possible, oftentimes keeping up with medical bills is simply impossible. In these situations, it may be time for an individual to consider his or her debt relief options, which may include Chapter 7 or Chapter 13 bankruptcy.