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 Credit and Debt Problems with Medical Issues Especially today, debt problems are among the most common family problems facing middle income Americans. Unforeseen medical bills can make an overall debt situation unmanageable. Whether the bills result from surgery or from a medical emergency, several areas of concern are relevant to this area. Certain rights accrue to all debtors and certain rights are set forth by state credit and consumer laws. Again, this area has several general rules but these may be complicated by certain state laws. Always check for any rules particular to your state or your situation. In this discussion, we will assume there is no dispute as to the existence of the debt. What if your debt becomes unmanageable? The urge to simply stop making payments and ignore the problem is often the easiest. It is likely the easiest way to cause long-term credit problems for yourself, as well. Generally, ignoring a debt will not work to your advantage. Of course, there are cases in which a creditor may simply "write the debt off,"and in these cases debts which were ignored may never have to be paid. Also, every debt has a Statute of Limitations, that is a time period by which the creditor must file an action against the debtor or lose his/her rights to sue. If you can predict the actions of your creditor, you may take certain actions. But if you are unsure of the actions your creditor may take you should probably assume the worst and follow your legal rights. You may wish to review the section on handling debt problems, which details the manner in which you can obtain specific instructions on what to do about handling debt problems yourself. You can learn about the first steps to take with a persistent creditor; the reasons to settle with a creditor and not a collection agency; how to reduce the amount owed; and what happens if a collection agency starts calling you.
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