Everyone encounters unexpected expenses once in a while. Things break, you need to miss work or you suffer a bereavement, just to name a few. The costs add up, but many people try to put a little aside just in case. But what if you can't afford to save? Or what if the expense is so great that you worry you might never pay it off? Throughout Arkansas, more people than you might think suffer from bad credit, debt problems and other financial worries.
The same can be said for people across the United States, with medical bills being one of the prime culprits for landing people in sudden and unmanageable debt. This is exactly what happened to a farmworker in California after his mother was rushed to the hospital with meningitis. She was choking, suffering convulsions and ultimately was lucky that her children found her in time to seek medical attention.
She spent a week in the hospital before going home for four days of rest. The bill came to over $200,000. Her son, who makes an average of $25,000 a year, working long hours, doesn't know how he'll manage to cover the bill. Nevertheless, surely it was worth it to save his mother's life. However, what happens if these additional costs leave him unable to pay the rent?
It's a dilemma facing all too many families in the United States and the situation in Arkansas is no different. If you are overwhelmed with debt, you may not know where to turn, but you are certainly not alone. There are many ways to discharge debt, organizing more manageable payment plans or even filing for bankruptcy. An attorney can advise you on your options and help you to choose the path that's best for you.
Source: New America Media, "Undocumented, Uninsured, and In Debt For Life," Jesus E. Valenzuela-Felix, May 18, 2014