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November 2014 Archives

NerdWallet investigation confirms that medical debt is still significant problem

Medical debt is among the biggest financial challenges Americans face, and according to a recent investigation by NerdWallet, the problem isn’t because Americans are spending their money elsewhere. The NerdWallet investigation involved an online survey of 2,016 American adults 18 years old and above, as well as public and private sector reports on consumer debt, medical billing errors and hospital prices.

What is a proof of claim in bankruptcy?

Despite the credit challenges it involves after the process is complete, bankruptcy can certainly be beneficial for debtors who are unable to reasonably foresee being able to pay their creditors back. As everybody knows, part of the way bankruptcy works is by writing off some of the debt and sending creditors away partially paid or not paid at all. Still, creditors do have the right to seek what is due to them when a bankruptcy case is filed.