Sentences with phrase «medical bankruptcy»

Rather, he proposes a more practical and straightforward explanation of medical bankruptcy.

The above summary of medical bankruptcy is by no means all - inclusive and is not legal advice.

«Unless you're a Warren Buffett or Bill Gates, you're one illness away from financial ruin in this country,» says lead author Steffie Woolhandler, MD, of the Harvard Medical School, in Cambridge, Mass. «If an illness is long enough and expensive enough, private insurance offers very little protection against medical bankruptcy, and that's the major finding in our study.»

Of all people filing for medical bankruptcy:

So while at least 18 percent of the cases Austin reviewed were medical bankruptcies as clearly defined by the debtor's filings, the actual number may be upward of 25 percent if medical debts were concealed in credit card debts.

90 % of disabilities stem from illness rather than injury, and medical bankruptcy accounts for 60 % of all personal bankruptcies in the US.

Purchasing additional insurance can protect your personal finances from medical bankruptcy and liability lawsuits.

«Unless you're a Warren Buffett or Bill Gates, you're one illness away from financial ruin in this country,» says lead author Steffie Woolhandler, M.D., of the Harvard Medical School, in Cambridge, Mass. «If an illness is long enough and expensive enough, private insurance offers very little protection against medical bankruptcy, and that's the major finding in our study.»

Not having health insurance puts you at a higher risk of medical bankruptcy, since even a single car accident can put you in the hospital, or an unexpected medical diagnosis can make it hard for you to qualify for new health insurance.

«A medical bankruptcy is a bankruptcy that's filed primarily because of medical debt for which the debtor is responsible,» he said.

Individuals or couples who file bankruptcy due to medical bills often refer to their case as a «medical bankruptcy,» even though such a bankruptcy case does not exist.

If you need these, let a medical bankruptcy lawyer outline how bankruptcy can affect you and help you get rid of your debt.

A medical bankruptcy filing under Chapter 7 can protect your assets from repossession and stop wage garnishment.

To speak with a medical bankruptcy lawyer near you, simply complete the free case evaluation form on this page and we'll connect you right away.