Too many people believe that bankruptcy filers are all financially irresponsible individuals who are taking advantage of the system to “get out of debt free.” However, this is simply not the case as many Americans turn to bankruptcy because of events that are beyond their control. One type of event that leads to more personal bankruptcies1 than any other reason is an unexpected medical problem that causes you to incur a large amount of medical debt.

Whether you have been diagnosed with a serious illness or have suffered a severe injury in an accident, medical bills can pile up quickly due to the astronomical costs of medical care in recent times. Even people with decent health insurance can still be left with crushing debt after a serious medical event in the family. Medical issues can often cause the following for households:

  • One or more family members will have to stop working (or significantly cut back on hours) to either receive medical treatment or to care for an ill household member.
  • A family may have to deplete their savings or retirement accounts to cover medical bills.
  • A family may go into credit card just to cover basic expenses, such as food, rent, or clothing.
  • Delinquent medical bills can cause a credit rating to decline, affecting the family’s ability to find quality financing for housing or transportation.
  • Collection agencies may constantly harass the family regarding the medical debt.
  • The household may get sued for unpaid bills, which can lead to wage garnishments or liens that can make it even more difficult to pay necessary, everyday expenses.


As you can see, unexpected medical costs that are not covered by insurance can easily cause a household’s financial situation to spiral out of control. For this reason, a household that experiences a sudden, serious medical event may want to consider filing for bankruptcy to regain control of their financial situation.

A St. Louis Bankruptcy attorney can help

If you think bankruptcy might be a good option for you, please do not hesitate to call the Law Offices of Kenneth P. Carp at 636-947-3600 to discuss your situation today.

1http://www.nerdwallet.com/blog/health/2014/03/26/medical-bankruptcy/

Written by kennethpcarplaw@gmail.com