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Medical bills drive Georgia residents to bankruptcy Atlanta, GA

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Medical bills drive Georgia residents to bankruptcy

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Many of our Atlanta blog readers assume that, if they have health insurance coverage, they will not incur significant medical debt if they fall ill or become injured. Unfortunately, that is not the case. Even if you have health insurance, you will probably still find yourself paying high out-of-pocket costs for co-pays, deductibles, medications and other expenses that are not covered by your insurance.

As such, it is not terribly surprising that medical debt is the driving force behind many Georgia bankruptcy filings. The statistics vary – one study found that medical bills contribute to more than 60 percent of bankruptcy, while another placed that number at about 20 percent. What is clear, however, is that Americans are unable to pay their medical bills, and it is having a negative effect on their finances.

According to a 2007 survey, 41 percent of working-age Americans are either paying off medical debt or having trouble doing so. That number, which equals about 72 million people, was a 7 percent increase from 2005, and it is likely even higher now following the economic recession.

Unsurprisingly, medical debt problems are most likely to afflict the uninsured. In one survey, 60 percent of uninsured adults between the ages of 19 and 64 said that they had accrued medical debt that year.

However, medical debt it is a issue that affects people of all income levels. More than 75 percent of the bankruptcy filers in yet another study had middle-class incomes and were insured at the start of the illness or injury that would ultimately cause them to file for bankruptcy.

Source: KUNC, “Patients Go Bankruptcy As Medical Costs Soar,” Erika Gonzalez, May 21, 2012

Posted on behalf of Gingold & Gingold

1718 Peachtree St NW, #385
Atlanta, GA 30309

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Based on 28 reviews

Jack L.

They did an excellent job with my case. Jamie took the time to really listen and understand things. She delved into the details and was extremely knowledgeable and non judgmental. Very professional and they know what they are doing. Would definitely recommend!

All C.

Mr. Gingold was recommended by an attorney I had worked with previously. I met with Ira Gingold to discuss credit issues. He went over each specific issue thoroughly. He advised me of the potential outcomes. He did all this in one meeting for a very reasonable price. When we finished I was confident in moving forward with a resolution. He definitely wants to help people take the appropriate course of action for their circumstance.

Karen B.

Dear Mr Gingold, There are so many reasons to be thankful for all you have done and will do. Anyone who has ever had unfavorable experiences with an attorney or the legal system will feel the trepidation that I experienced once I realized that my situation seemed hopeless. It was by chance and happily good luck that I decided to put my future and sanity into your hands. I was mortified at having to deal with my debts by claiming bankruptcy. I remember in our first meeting how you assured me that I was not alone and should not feel ashamed. And, anyone in this position obviously does not have money to spare and you were clear about all the costs and allowing me to pay according to my own ability to do so. You advised me in all aspects of the law, but also, you were at each meeting incredibly supportive and complementary of my personal and professional plans. Anyone else in this situation should feel blessed to have access to your expertise and support.

Lyla B.

I thought the process of filing bankruptcy was going to be a difficult one. However, Gingold & Gingold treated me with respect and dignity from the moment I walked through their door. I had the pleasure of working with Jamie. She is very responsive, professional, and knowledgeable. She took the time and listened to my every concern and handled each and every one of them to my satisfaction. My experience with filing bankruptcy under Gingold & Gingold's representation exceeded my expectations in a major way. They gave me such a peace of mind. I am very pleased with my decision of going with Gingold & Gingold to represent me when I filed Chapter 13 bankruptcy.

Julie T.

Wow! I am finally out of debt and can say that I am debt free after completing my chapter 7 bankruptcy case with Gingold and Gingold. Mr dangled was very knowledgeable and direct with regard to my debt situation. there were no surprises and the case went as I was advised. The staff was also very helpful whenever I had a question. I will definitely recommend them in the future to my friends.

Sherard W.

I cannot say enough about this law firm. From the initial consultation to our discharge, the entire office kept me updated with every step of the entire process. I came to the Gingold after a bad experience with another law firm. Ira and Jamie immediately began treating me like family through this experience. In the end, they assisted with eliminating many debts including my 2nd mortgage. I cannot say enough about the experience and knowledge that Ira brought to the table from the office visits to the court time. Thank you very much for helping me through this tough time. Thank you.

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