Many of our neighbors across the Upper Peninsula of Michigan want to know the same thing because medical bills are the leading cause of Chapter 7 and Chapter 13 bankruptcy filings in places like Marquette, Sault Ste. Marie, Escanaba, Menominee, Iron Mountain, Houghton and Ontonagon. Medical expenses have escalated much faster than wages so the enormity of regular medical bills often overwhelm the average person’s ability to pay.
Even if a person has medical insurance, they must pay hundreds, if not thousands, of dollars in deductibles and co-pays before insurance kicks. Even if expenses are covered, many Upper Peninsula families must pay 20% or more as deductibles. As examples of high medical costs, the average cost of a broken leg requiring a cast is $2500, heart attack care $38,000 while cancer treatment ranges from $10,000 to $30,000 per month. The standard 20% co-pay on any of these medical emergencies is likely out of reach for the average Upper Peninsula family.
Bankruptcy may be the only relief available to folks who choose to receive life saving medical treatment when their very lives are in danger.
Upper Peninsula Bankruptcy Lawyers can explain how bankruptcy provides much needed relief from unexpected medical bills. Stay tuned for future posts on this issue. We will explain how bankruptcy works, what it does and how it provides a fresh start to people who have lived through a medical crisis only to face a financial crisis of insurmountable medical bills.
Upper Peninsula Bankruptcy Lawyers represent people from all over the Upper Peninsula of Michigan in Chapter 7 and 13 bankruptcy. We provide free initial consultations and easy payment plans. Call us at (906)226-0001 to see if bankruptcy is the right option for you.