Recent Updates
April 28, 2010
State Must Prove Defendant's Knowledge of Driver's License Suspension
April 13, 2010
Sentencing Commission Votes to Eliminate Recent Criminal History Points
October 15, 2009
Consent to search inside of vehicle does not extend to locked containers
October 14, 2009
Making phone calls to get drugs for personal use not a felony
October 07, 2009
Duval County schools agree to reduce number of students getting arrested
Rising Health Care Costs; Unexpected Medical Emergencies and Bankruptcy
October 29, 2008
Topic: Bankruptcy
Many of our clients who are seeking bankruptcy relief do so because of their health care costs. The clients reach the point of needing bankruptcy help usually for one of three reasons:
1. Ongoing health Problem
2. Steep rises recently in the cost of their healthcare
3. Medical emergencies
Ongoing Health Problems
Persons who have suffered long term health problems such as heart disease or diabetes have often have limited earning abilities. Long term medical treatment puts a drain on the financial health of the client, particularly those who at one time were health. A slow or moderate decay in the ability of the client to pay bills should be addressed early to avoid loss of assets, such a homes or vehicles.
Rising Health Care Costs Make Matters Worse
The National Coalition of Health Care reports that health care costs in 2007 rose at more than twice the rate of inflation. http://www.nchc.org/facts/cost.shtml These increases, combined with the limit on the earning power of those in poor health, eventually can lead to a person falling so far behind on their bills that nothing short of bankruptcy will allow the person to keep their assets or allow the person an ability to start over with a fresh start.
Medical Emergencies
Sudden and traumatic health emergencies, such as heart attacks, stroke, car or other accidents, often have a two-fold effect. One, the person is often saddled with expensive medical bills, particularly for those without medical insurance. In fact, the high cost of medical treatment is the main reason why persons don't have insurance in the first place. See this link for a discussion of this topic. http://www.kff.org/insurance/7672/index.cfm
We recently consulted with a client who was an executive in another state who had a sudden medical condition come on that cost the client the ability to hold any job. Despite their high management position with a national company, within six months the client had run out of disability payments and was reduced to taking unemployment. Their income dropped by more than 70 percent. This caused stress in the marriage which led to a divorce and the client having to move in with their adult child. The bankruptcy will protect the client from in excess of $200,000 in debts from the former martial home, cars, credit card debt, and other loans.
If you are considering bankruptcy in Florida because of financial strain caused by medical bills, give us a call at the Arnold Law Firm at (904) 731-3800 and set up a free bankruptcy consultation.
