GM Law Firm Fights Medical Debt During COVID-19
Industry: Legal Services
As Credit Card Debt Dwindles, Medical Debt Skyrockets
Boca Raton, FL (PRUnderground) July 28th, 2020
GM Law Firm, a legal debt attorney group, continues to help those individuals mired in debt which has changed since the onset of the COVID-19 virus.
During these difficult times, credit card debt in the U.S. is actually on the decline. In fact, CNN recently reported that the American debt related to credit cards actually dipped below $1 trillion for the first time since 2016.
With so many non-essential businesses closed due to the pandemic, Americans are not spending on things like restaurants or gasoline which is allowing many to put whatever extra income they have into reducing their existing credit card balances.
That’s the good news. The bad news is personal debt is increasing in the medical sector.
At the end of 2019, 137 million Americans battled medical debt, and a new study from academic research showed that nearly 67 percent of bankruptcies in the U.S. were tied to medical debt. For families succumbing to terrifyingly increasing numbers of COVID-19 related medical bills, the time is now to seek legal advice to prevent worst-case scenarios.
“The debt burden is shifting dramatically from one category to another,” admits Chantel Grant, Esq., a debt lawsuit specialist and Senior Partner at the GM Law Firm. “We’re seeing more families hit with unexpected medical bills due to the coronavirus who are looking for solutions to this mounting financial crisis.”
Fighting Medical Debt Before a Lawsuit Ensues
Medical debt lawsuits are on the rise, as hospitals are more quickly throwing the debtor into collections. Having an expert legal counsel negotiate with the debt collectors on your behalf is beneficial to finding those areas where debt can be eliminated.
There are also several federal statutes in place to protect consumers against harassing debt collector tactics like the Fair Credit Reporting Act and the Fair Debt Collections Practices Act that the GM Law Firm attorneys use to a consumer’s benefit.
There are also nuanced defense strategies such as bill verification to ensure what’s being billed was actually performed. In addition, statutes of limitation laws that differ from state to state can offer another line of defense. The GM Law Firm has successfully handled personal debt cases for over 15 years. The firm now offers free consultation during the COVID-19 pandemic to determine where you stand in the face of daunting debt.
About GM Law Firm, LLC
GM Law Firm is a consumer advocacy law firm based in Boca Raton, Florida, that empowers clients battling credit card, private student loan and medical debt to fight for their rights and help negotiate a satisfactory debt resolution. The experienced attorneys from the GM Law Firm also legally protect clients against harassing debt collectors and provide a customized strategy for debt defense. Contact GM Law Firm (www.gmlawfirmllc.com) for a consultation.