One of the leading causes of bankruptcy is medical emergencies. Due to the overwhelming nature of healthcare costs, when a medical emergency occurs, it can be quite shocking to the budget of an individual or family. Many families in Texas are being buried in debt owed on medical bills, resulting from an unforeseen and serious injury or sickness. One couple is currently on the brink of homelessness due to heavy medical debt.
The couple has been married since 1977 and is about to be evicted due to their dire financial situation. The husband was once an active attorney with his own successful practice. However, on Christmas Day of 2009, his wife suffered a major stroke which caused the couple to take on more debt than they could afford due to medical costs. This also caused their health insurance to increase to more than $1,000 per month.
The couple, who has resided in the same home for 15 years, has recently been evicted by their landlord because they are not able to pay their $775 monthly rent. The wife claims they will be forced to live in their vehicle with their two dogs if they are not able to find assistance. The wife says that her husband gave up everything to provide her with care and rehabilitation. The wife has been denied disability, and she also fails to qualify for many government programs.
Although medical bills may become too much for consumers to handle, there are still solutions for many people in Texas. One of these solutions may be to file bankruptcy. Medical debt can be discharged in a Chapter 7 bankruptcy petition, since it is unsecured debt. On the other hand, a Chapter 13 bankruptcy will reorganize debts into more manageable payments. It may be advisable to consult a legal professional regarding which option is best.