bankruptcy information texas

bankruptcy information texas

Devastating diseases are said to be about half of all personal bankruptcies are triggered in the U.S.. According to recent findings of a study by Harvard University, most People who go bankrupt because of medical problems have health insurance. The researchers found that many private insurance plans that limited coverage catastrophic were inadequate and offer little financial security for less severe illnesses.

There were 1771 questionnaires to bankruptcy filers in 2001 sold in California, Illinois, Pennsylvania, Tennessee and Texas. According to the study a total of 1.46 million were Privatkonkurse were filed in the United States in 2001.

Almost 1,000 people surveyed gave detailed interviews about their financial and medical circumstances. Disease and rising medical bills were cited as the cause, in part, for 46.2 percent of Privatkonkurse. The number rose to 54.5 per cent if a further three other factors were involved as triggers for medically-related bankruptcies: Birth, death and addiction. The study found that medical bankruptcies affect about 2 million Americans currently each year, including 700,000 children.

The study were also concerns that a majority of people had to seek court bankruptcy protection insurance, with more than three quarters of reporting coverage were at the beginning triggered the health disaster that the bankruptcy law. The study also found that 38 percent of the participants were temporarily lost coverage by the time of bankruptcy claims was intended, often with catastrophic illness or injury to both job and insurance loss.

Unfortunately, it is apparent that for many Americans, a severe illness often leads to loss of employment, which also means the loss of health insurance. High-priced coverage through COBRA, although well intentioned, is useless if people can not afford to pay for it. Bankruptcy families also lose more than just assets. One out of five families go without food. One-third had off their aid programs, and nearly two thirds needed skipped attending physician or dentist.

The results of the study also noted medical-related Bankruptcies often hit middle-class families hard, with 56 percent of the storage units as a college graduate, which includes a house. The study did not examine how Many bankruptcy filers of dual-income families where both partners had had health insurance.

The Harvard findings echo earlier studies, which generally have reported that a majority of bankruptcy filers medical problems as a primary cause of bankruptcy mentioned, as well as other factors, including Easy Credit, job loss and financial mismanagement.

Many health insurance experts point out that the Harvard study did not investigate properly the role disability income protection plans and personal savings can play to help people with medical problems to avoid bankruptcy.

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