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Medical Bills Still A Leading Cause Of Bankruptcy

On Behalf of | Feb 3, 2015 | Bankruptcy

A recent study of random bankruptcy filings from 2013 shows that roughly 18% to 23% of all bankruptcy cases have medical debt as a “predominant factor” in them. Here is a link to the study:

https://theconversation.com/why-medical-debt-and-bankruptcy-are-growing-problems-35532?utm_medium=email&utm_campaign=Latest+from+The+Conversation+for+January+28+2015&utm_content=Latest+from+The+Conversation+for+January+28+2015+CID_ca0cc25664acbaafb93e8a1e863ff91b&utm_source=campaign_monitor_us&utm_term=medical%20debt%20is%20a%20major%20factor%20in%2018%20to%2026%20of%20consumer%20bankruptcies.

The study also found that 61% of all bankruptcy filings contain medical debt and the average medical debt per debtor was $9,374.00 in 2013. Polling of individual debtors in the study reveals that medical debt is major factor in most bankruptcy filings.

If you or someone you know is struggling with medical debt, the law firm of Minnillo Law Group Co., LPA may be able to assist you. We have successfully assisted people with overwhelming medical debt with a variety of creative solutions. More information can be obtained at http://www.mjbankruptcy.com/Secured-and-Unsecured-Debt/Medical-Bills.shtml.

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