Considering Bankruptcy To Get Rid Of Your Medical Bills? You Are Not Alone! (Part Three Of Five)

20 Apr Considering Bankruptcy To Get Rid Of Your Medical Bills? You Are Not Alone! (Part Three Of Five)

Medical Bills 3As we saw inPart Two of this series, the cost of health care is a major factor for many Americans when having to make day to day decisions regarding how to allocate what are frequently limited funds. We also discussed how some people give up health, dental, vision and disability insurances and how filing a bankruptcy can often make those insurances affordable.

But what about the person with a chronic illness, handicap or disability?

Not surprisingly, this part of the population has an even more difficult time affording health care. Most insurers do not want to insure them, and if they are not a member of a group, they are often left with only high risk pools, with high deductibles and high premiums.

Studies show the following about the chronically ill, handicapped and disabled:

  • 44% of American adults report having a chronic illness such as diabetes, high blood pressure, asthma or cancer, or report having a handicap or disability. This group experiences even greater difficulty in obtaining health care.
  • 24% of adults with a chronic illness report health care expenses as their most costly living expense, with only their rent or mortgage costs being greater. Of the healthy adult population, only 14% place health care as their second most costly expense.
  • 29% of adults with a chronic illness reported having overdue medical bills, while only 16% of their healthy counter parts had this problem.
  • 38% of adults with a chronic illness have either made the decision to avoid medical treatment, forego filling a prescription or reduce their medication intake below the prescribed dosage do to financial problems, compared to 22% of healthy Americans.

By filing a Chapter 7 bankruptcy it is possible to get rid of medical bills, as well as other unsecured bills.

Part Four will address the health care issues faced by low to moderate income Americans.

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I've been a consumer bankruptcy lawyer for nearly 25 years. Since that time I have helped many people resolve their financial problems. I have been practicing law since 1986 and I am licensed to practice in all state and federal courts in the State of Louisiana. Because I am a sole practitioner, you know that your debt matters are being handled by me personally. In addition to my work with consumers, I am also frequently asked to speak at local seminars on bankruptcy law. I am member of the following organizations: • Louisiana Bar Association • National Association of Consumer Bankruptcy Attorneys • Bankruptcy Law Network My office is located at: 3920 General DeGaulle Drive, New Orleans, LA 70114 Telephone: (504) 368-4101

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