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Medical Debt Archives

How to deal with your medical debts in Tennessee

Whether you have health insurance coverage or not, the costs of medical care in Tennessee can add up quickly. According to the Consumer Financial Protection Bureau, one out of every five credit reports contains overdue debts resulting from medical bills. At Rothschild & Ausbrooks, PLLC, people often ask us how to deal with these types of debts. As such, we will discuss options for getting control of your medical debts in this post.

Settlement changes how medical debt is reported by credit bureaus

The costs of medical treatment in Tennessee, and throughout the U.S., are on the rise. Even with health insurance coverage, people may incur medical debt, which could show up on their credit reports. In a December 2014 report, the Consumer Financial Protection Bureau indicated that approximately half of the reported collection tradelines were from medical debt collection efforts. A recent settlement in a dispute involving the three largest credit reporting bureaus, however, will have a significant impact on how medical debt is reported moving forward.  

Finding relief from medical debt through bankruptcy

Having a medical emergency can be taxing on you both physically and monetarily. This is because medical-related expenses are often extremely high. Many people go into debt because of medical bills. Here at Rothschild & Ausbrooks, we understand that you would like relief from medical debt without having to forsake your health.

Is your credit score really your biggest worry?

If you read much online about debt and bankruptcy, you notice that often they point out the obvious. Don't collect too much debt or get health insurance. For many people in Tennessee, some of those options may not be very realistic. If jobs are hard to come by, and your employer does not offer health insurance, finding and affording insurance may be a problem.

Medical debts weigh heavily on many in Tennessee

For many Tennesseans, it is medical debt that sends them into bankruptcy. While some believe most bankruptcy cases are due to debtor's poor spending habits, the truth is often far more grim. Many who think of themselves as middle class workers, often with some degree of medical insurance, can suddenly find themselves saddled with unmanageable and overwhelming medical debt.

Affordable Care Act doesn't mean care is always affordable

Health insurance has been considered a "nice-to-have" thing for a long time. Until the Affordable Care Act came along such coverage was typically easiest for Tennessee residents to obtain through an employer. It even is considered to be a major selling point for businesses recruiting new hires. Having a job is great. Having a job with health care benefits is better.

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Rothschild & Ausbrooks, PLLC
1222 16th Avenue South, Suite 12
Nashville, TN 37212

Toll Free: 866-656-8909
Phone: 615-866-2265
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