Jump to Navigation

Some turn to crowdfunding for help with medical debt

Being overwhelmed with medical debt is a feeling that some Michigan residents know all too well. Maybe you couldn't wait a week to see your regular doctor for a condition, so you sought emergency care, or perhaps you were diagnosed with a disease that requires extensive, ongoing treatment to ensure your well-being. Regardless of how medical debt comes about, there is no doubt that it can be difficult to pay it off.

If you have been in this situation, know that you are not alone. In fact, a study conducted by the National Bureau of Economic Research two years ago found that half of Americans would have a hard time coming up with $2,000 to pay for medical bills. Only a quarter of Americans said they would be able to come up with the money without using credit cards, tapping into a savings account or using other methods for help.

Interestingly, a new trend in paying for medical bills is quickly rising. Some people who are in desperate need of money for treatments are turning to crowdfunding. Through websites like GiveForward and YouCaring.com, an individual can create a campaign and ask friends, families, co-workers, neighbors or even strangers to pitch in to help cover their medical bills. Last year, one woman raised more than $40,000 to help cover the specialized treatment she needed to fight cancer.

While crowdfunding works well for some people, it may not cover everything or be the best method for others. However, there are still options when debt becomes too much to handle. An attorney can explain how bankruptcy could help you find debt relief.

Source: Forbes, "When Medical Bills Pile UP, Can You Crowdfund Your Health Care?" Linda Childers, April 17, 2013

No Comments

Leave a comment
Comment Information
Free Case Evaluation

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

Subscribe to this blog's feed FindLaw Network
Marrs & Terry | Personalized, Efficient Counsel | Office Locations

Ann Arbor Office
Marrs & Terry, PLLC
6553 Jackson Road
Ann Arbor, MI 48103

Phone: 734-418-0365
Toll Free: 866-665-8095
Fax: 734-663-9973
Ann Arbor Law Office Map

Jackson Office
Marrs & Terry, PLLC
209 E. Washington, Suite 258
Jackson, MI 49201

Phone: 734-418-0365
Toll Free: 866-665-8095
Jackson Law Office

Credit Cards Accepted | VISA | MasterCard | American Express