As more and more millennials in Mississippi enter the workforce, move out of their parents' homes and even start their own families, they are doing so with a very unique view of money and reality surrounding debt than did the generations before them. This group of people has come of age during the Great Recession and may still be struggling to figure out how to avoid serious personal financial troubles themselves.
At the Pond Law Firm in Mississippi, we understand the difficulties you face when your earnings are insufficient to cover your bills. We also understand that you nevertheless hesitate to file bankruptcy for a variety of reasons that may or may not be valid.
Regardless of whether or not a person in Mississippi has health insurance, there is almost always the likelihood that they will be left with out-of-pocket costs. Sometimes those costs may be relatively minor such as a co-pay for a standard office visit. However, these expenses not covered by insurance can add up quickly when an illness or emergency occurs.
As debt mounts, you know there is no way you are going to pay it all off on your own. It's just too much. You do have a job, and you are thankful for that, but it is not as if you're making $100,000 per year. You and your family are living paycheck to paycheck.
One of today's biggest issues revolves around Americans and crippling amounts of medical debt. Not just a problem for a small percentage of the population, medical debt now affects millions. Mississippi is no exception to this struggle, as the state has become home to the highest medical debt in the country. Will this unsettling statistic change in the near future? What can consumers going through these tough times expect?
When buying a home in Mississippi, the thought of losing it to financial hardship is likely the furthest thing from one's mind. However, life can throw curve balls to people that they would never have been able to see coming and these things may well put homeowners in the position of being vulnerable to foreclosure. This can be a scary concept but understanding the steps involved and the options along the way is important and may help people avoid unnecessary actions.