The Essentials of Bankruptcy Law

The Essentials of Bankruptcy Law According to a comprehensive, careful study by Harvard University researchers, over half of all bankruptcies in the United States are the result of overwhelming medical expenses. In their study, researchers found that over... More

The Essentials of Bankruptcy Law
According to a comprehensive, careful study by Harvard University researchers, over half of all
bankruptcies in the United States are the result of overwhelming medical expenses.
In their
study, researchers found that over 1.
5 million families had sought the bankruptcy court s
protection because their insurance did not cover the costs of serious medical treatment, and they
could not pay the bills from their own resources.
The same study found that extended
unemployment ranked as the second leading cause of bankruptcy, and researchers noted that,
since the serious recession began, the rates of those filings have increased more than 50%.

Bankers and financial planners emphasize the seriousness of declaring bankruptcy, stressing that
you should consider it your last resort.
If, for example, you have fallen behind on your house
payments and fear foreclosure, you carefully should consider federally guaranteed mortgage
refinancing or loan modification; C Less