Overspending, excessive borrowing and job losses are most often blamed as precursors to personal bankruptcy. Less attention is given to the blow of medical debt that, researchers say, causes one family to every 90 seconds.
Researchers have linked medical bills to 62 percent of all American bankruptcies. The study showed overwhelming expenses due to illnesses were not isolated to the poor or uninsured. Three-fourths of medical bankruptcies were filed by families with health coverage.
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Medical debt prompts Florida couple to file for bankruptcy
Source: http://www.finance4noobs.com/medical-debt-prompts-florida-couple-to-file-for-bankruptcy/
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