Medical debt is among the leading causes of bankruptcy, and medical bills are among the most common forms of debt with which Americans are strapped. There are a number of reasons for this, including the continually increase in the costs of health care and the way the medical industry deals with medical debt.
The number of young Americans struggling to pay their student loan bills, as our readers know, is greater than any other time in history. Unfortunately, as we’ve pointed out before on this blog, bankruptcy provides no relief for struggling graduates. The best hope for those carrying heavy loads of student loan debt is to sign up for alternative payment plans. These plans can be manageable, but they don’t address a major reason those loads are hard to carry in the first place: unemployment or underemployment.