From sea to shining sea, and from sunshine to snowbanks and from mountains to swamps and everything in between, Americans are swimming in debt. A recently published news story and accompanying map shows just how much debt the residents in each state owe on average.
When a hospital and debt-collector are one and the same
She owed tens of thousands of dollars to a Florida hospital for the month she had spent there in intensive care after falling into a coma. In addition, she owed tens of thousands more to the specialists who cared for her during her illness. Unfortunately, she was unable to write a six-figure check to cover the bills.
Working toward financial stability takes concerted effort
Many people are worried about the state of the economy. For these individuals, making plans now to recession-proof your finances can help them to feel better and enjoy more financial stability.
Beware credit card debt scammers
It's easy in today's fast-paced world to get behind on your bills. For many people, getting behind is more about unforeseen circumstances (illness, job loss, divorce, etc.) than it is about reckless spending.
Getting out from under medical debt
According to researchers and pollsters, the number one reason for filing bankruptcy is medical debt. Unfortunately, bankruptcy comes with a number of downsides that can pile up quickly. You can lose your house in bankruptcy, as well as your car, your stocks and your bonds. Bankruptcy also stains your credit rating for a decade, making it close to impossible to get a loan for any reason.
Develop a plan to reduce or eliminate your credit card debt
Using credit cards to make payments on many things is a way of life in this country. There are many times in which this isn't going to cause a problem. You know that a credit card is a good option since it does offer some protections. You might even be responsible with what you charge, but sometimes there is trouble looming.
Medical bills create problems even for those with health coverage
One of the most difficult forms of debt to deal with is the debt that accumulates as a result of a health care crisis. Medical debt can be especially difficult to deal with emotionally because it's typically a two-headed beast that brings with it enormous medical bills and a significant medical issue for you or a loved one.
