Recent Studies have shown that the leading cause of Bankruptcy is medical debt from chronic illness. A university research team interviewed a number of individuals who were part of the 1.45 million people who filed for bankruptcy earlier in the decade.
In these in-depth interviews, half of the families cited medical issues as the reason for going into bankruptcy. Out-of-pocket expenses for illness averaged a cool $12000. Seventy-five percent of these individuals had insurance at the onset of the illness. What was even more disturbing was that these individuals were more likely than others to experience lapses in coverage.
The truth of the matter is that more and more Americans are filing for bankruptcy. If this is the case with you, it may be beneficial to hire an experience bankruptcy law attorney. Contact the professionals at the law offices of Eric N. Klein at 561-3563-2500.
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