Medical costs lead to bankruptcy more often than poor spending or saving habits

An interesting article reports on what is commonly known among bankruptcy practitioners, that medical bills are a common factor that drive people to file bankruptcy in Houston and throughout the United States. In fact, many bankruptcies in Houston and throughout the country do not have anything to do with excessive spending habits or poor saving habits, but instead are because of medical issues. Medical costs are sudden and expensive. Health insurance is also very expensive. One trip to the Emergency Room can easily cost up to $10,000.00 without insurance, and with insurance, it can still cost up to $5,000.00 for the same issue because of high deductibles for the more affordable insurance plans. The following article explains this in further detail.

http://bostonglobe.com/opinion/letters/2012/08/21/medical-costs-not-poor-savings-habits-most-often-lead-bankruptcy/3smbw4GZM4wg7TMJc3OGuL/story.html

For more information on bankruptcy, contact a Houston bankruptcy lawyer at the Rashid Law Firm by dialing 832-209-8833 to schedule a free initial consultation.