Medical bills and debt

By: Darrell Castle

The luxuries are cheap and the necessities are expensive – that’s why so many families are struggling with debt, according to a statement in this article.


The new iPhone 6? Relatively inexpensive and not life-threatening.

Healthcare? Very expensive and a necessity for life.

You can throw in college education to that expensive and necessary group as well.

According to the AP, “for a typical married couple with two children, the combined cost of child care, housing, health care and savings for college and retirement jumped 32 percent from 2000 to 2012.”

Medical bills are one of the more frequent reasons people end up in debt. If you have a family, not only are you paying a lot out of your paycheck for their healthcare, but if someone in the family gets sick or needs surgery, the costs can seem endless, and again, this is WITH insurance.

People don’t always plan for medical emergencies to happen, and they always come unexpectedly. If you haven’t saved properly, or the severity of the issue is just too costly, it can really put your finances in a bind.

And with the way debt works, once you get behind on your medical bills, you begin to get behind on other bills trying to make up the difference. Then interest fees and penalties kick in, and your debt increases and you’re stuck paying money you didn’t even originally owe.

Then debt collectors begin calling and harassing you at all times of the day and night. That plus the constant worry of how you’re going to pay your bills that month leads to stress, which can turn into a big problem all in itself.

This isn’t an outrageous situation I’m making up on the spot – this is something that CAN and DOES really happen.

There’s a way out, though. There’s a way to keep your family from struggling financially. There’s a way to not lose sleep and joy worrying about how you’re going to pay the bills and get caught back up on your debt. There’s a way to keep financial stress from affecting you and your families’ lives..

By filing for bankruptcy, you can discharge your debt through a Chapter 7 bankruptcy, or lump your debt into an affordable payment plan over a longer period of time. An experienced bankruptcy attorney will help you decide which chapter is best for you.

Then, once the bankruptcy is complete, you have a clean slate and fresh start financially.

Darrell Castle & Associates not only wants to help you get out of debt, but we also want to provide you with the tools to succeed after. That’s why we offer our clients free access to 7 Steps to a 720, an online credit restoration program that teaches you the tips and tricks the banks don’t want you to know in regards to re-establishing and rebuilding your credit the right way.

If you’re considering bankruptcy, call (901) 327-2100 today to schedule your FREE consultation with an experienced bankruptcy attorney, or fill out one of the contact forms on this page.