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Did You Know Medical Bills Are the #1 Cause of Bankruptcy?

On Behalf of | Dec 4, 2022 | Solutions

Several years ago, the American Journal of Medicine released a shocking study which revealed that more than 62% of all bankruptcies filed in the United States had medical debt as a major cause.  It also showed the number of people filing for bankruptcy because of medical debts increased by almost 50% in just six years.

Over the years, big credit card companies lobbying for bankruptcy reform tried to portray all bankruptcy filers as irresponsible deadbeats trying to “beat the system.”  However, their own research demonstrated that less than 4% of all bankruptcy cases were filed in bad faith.  In fact, the American Journal of Medicine study showed that most medical bill debtors were well-educated and middle class.  And although we hear constant debate about mandatory health insurance and the uninsured, 75% of those who filed for bankruptcy actually had health insurance.  (see the entire study at

The Medical Bill Solution

If you’re facing a growing medical debt that is impossible to pay, you may feel trapped, with no way out.  But that’s not true.  You may be able to achieve financial recovery by filing a Chapter 7 fresh start bankruptcy or a Chapter 13 bill consolidation bankruptcy.

Contact Us Today

Don’t let financial problems caused by overwhelming medical debt ruin your life and that of your family.   There is a solution to this stressful situation.  Through Chapter 7 fresh start bankruptcy or Chapter 13 bill consolidation bankruptcy, we can help you end your financial nightmare and put you back on the road to becoming debt free.

Call Robert Raley Bankruptcy Attorney today at 318-747-2230 or set up an appointment by visiting our contact page.