Although mortgage, student loans and credit card debt top the highest that Americans are burdened with, medical debt is also a rising problem that should be given attention.
Dallas, TX (PRWEB) May 31, 2013
Credit Card Consolidation Loan urges people to not just focus on the top three debts in the country. Although mortgage, student loans, and credit card debt top the highest that Americans are burdened with, medical debt is also a rising problem that should be given attention.
In an article entitled “Millions struggling with medical debt,” Dallas News stated that consumers are feeling the weight of this type of credit obligation. Based on the Biennial Health Insurance Survey done by the Commonwealth Fund between April 26 to August 19, 2012, 41 percent of adults are having problems paying off their medical debts. The survey was done through phone calls to more than 4,400 adults that are 19 - 64 years old.
In the same survey, 29 percent of the respondents have more than $4,000 worth of unpaid medical bills while 16% have $8,000 or more.
While these figures may not be as high as the top three debts in the country, Credit Card Consolidation Loan notes that the problem lies in the fact that consumers are finding it hard to pay them off. Despite the availability of cheap health insurance, these are often not enough to cover their bills and are becoming a problem for those seeking medical care.
The article also states that this type of debt is scary in the sense that consumers have no control over how big it will get. If one is in need of medical care, depriving them of treatment for lack of finances should never be an option. Credit Card Consolidation Loan believes that this idea scares consumers into foregoing medical care until their health is in serious condition.
While the government is evidently making an effort to address this through the Affordable Care Act and the Medical Debt Responsibility Act, there is a more immediate solution to this debt problem. Credit Card Consolidation Loan is sure that debt consolidation is a viable option to help people burdened with medical debt. Different debts can be paid off by taking in one big loan that will lead to a single payment method. If the consumer has a good credit score, they will get a low interest rate that will effectively lower their monthly contributions.
For consumers who paid off their medical bills through credit cards, the debt relief company offers their services. The company will provide qualified clients with the means to combine all their credit card debts into one payment. All their credit card bills will be paid off as soon as a loan agreement is made. The company is proud of their ability to offer low interest rates and an equally low monthly payment.
Credit Card Consolidation Loan does not charge upfront fees, nor will they maneuver clients into a payment plan that they cannot afford. All decisions will be under the full control of the consumer. Not only that, clients will develop better payment habits because the company will help consumers create a consolidation plan that will help them stick to their monthly obligations. Best of all, they provide free financial education so clients completing the program will walk away with improved money management skills.
Visit CreditCardConsolidationLoan.org for more details or call 888-602-3579.