Stuttgart, Arkansas
1702 S Main St
Stuttgart, AR 72160
(870) 673-1313

Medical Debt Causes Thousands of Bankruptcies Every Year February 1, 2018

Stuttgart, Arkansas
Medical Debt Causes Thousands of Bankruptcies Every Year, Stuttgart, Arkansas

Medical emergencies can occur at any time, leaving even those with health insurance facing massive, unexpected bills they cannot afford. Because most American households lack the resources to handle any type of financial emergency, the costs associated with a medical emergency can be economically disastrous, especially for families already struggling to meet their obligations. For thousands of American households, bankruptcy provides the only avenue out from crushing medical debt.

How Medical Debt Pushes Millions Into Bankruptcy

Due to high costs and the unpredictability of medical emergencies, health care is one of the few situations which can result in tens or even thousands of dollars in unexpected debt. Even after the passage of the Affordable Care Act, nearly 20% of Americans with health insurance experienced difficulty paying off their medical expenses. The problem is even worse for the insured, 53% of whom cannot pay their outstanding medical bills.

The Financial Dangers of Medical Emergencies

bankruptcyAlthough long-term treatment for chronic medical conditions is costly, those who suffer one-time medical emergencies may be even more financially vulnerable. In many cases, these individuals and their families are unprepared for the costs of treatment after an accidental injury or acute illness, which can compound other financial problems. According to some estimates, medical expenses contribute to up to 25% of bankruptcy filings.

How Bankruptcy Can Help

Both chapter 7 and chapter 13 bankruptcy petitions allow borrowers to discharge most unsecured debt, including all outstanding medical bills. For many families unable to pay the costs of life-saving health care, bankruptcy may represent the best way to relieve the financial pressure of unmanageable medical debt and get a fresh start.


If you’re struggling under the weight of crushing medical debt, the bankruptcy attorneys at Bueker Law Firm have the experience to help you reclaim your life. As one of the Little Rock, AR, area’s most respected bankruptcy firms, they provide every client with dedicated attention and unmatched expertise through this difficult process. Learn more about your bankruptcy options online, follow their Facebook for more insight, and call (870) 673-1313 to speak with an accomplished attorney.

Other Announcements, Events and Deals from Bueker Law Firm
Will Repossession Affect My Credit Report?, Stuttgart, Arkansas
When financing a vehicle, the borrower agrees to use it as collateral in the event of default. As a result, those who are struggling to make payments on a car loan should explore more
Thinking of Buying a Foreclosed House? A Lawyer Shares Some Reasons to Reconsider, Stuttgart, Arkansas
On the surface, a foreclosed home might seem like an unbeatable bargain. But before you put your hard-earned money down on a house, it's important to consider the purchase from all more
What You Should Know About Chapter 7 Bankruptcy, Stuttgart, Arkansas
For a lot of debtors, chapter 7 bankruptcy is preferable to chapter 13 because it discharges their debt entirely. With chapter 13, on the other hand, debtors must pay back some or more
Why You Should Never Spend Money Before Filing for Bankruptcy, Stuttgart, Arkansas
Filing for bankruptcy is a viable solution to the burdens of unmanageable debt. The decision to file, however, is a major one that has a profound impact on your financial life, and more