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February 2014 Archives

Medical debt is leading cause of bankruptcy

Ohio residents who are struggling with medical bills may be wondering whether bankruptcy can help resolve their issues. Experts say that bankruptcy should be a last resort, but that it can be an effective method of dealing with medical debt if there are no other options available. There are different types of bankruptcies, so choosing the right method depends on an individual's specific situation.

Foreclosures in Ohio increased between December and January

Being at risk of losing a home in Ohio is a time of uncertainty. Foreclosure is an issue that faces many Ohio residents, and even though the amount of filings have fallen when compared with last year, there are still those who find themselves in need of help. One kind of help can come in the form of bankruptcy, as a way to regain control of the situation. Personal bankruptcy has the potential to give homeowners a chance at saving their homes, whether it is through Chapter 7 or Chapter 13 bankruptcy.

Annual number of Ohio bankruptcy filings continues to decline

Personal bankruptcy is designed to give people who are overburdened with debt a fresh start in life. The two main problems people face that lead them toward bankruptcy are the loss of their jobs and medical bills. With the improving economy, it appears that fewer people need the relief that bankruptcy provides.

Medical debt impacts 1 out of every 4 families in the US

Medical debt is a problem for many Ohio families, putting pressure on a household's income in an attempt to keep up with the bills. In fact, according to a recently released survey performed by the National Center for Health Statistics at the U.S. Centers for Disease Control and Prevention, it's been found that in 2012, one in four U.S. families were having trouble paying their medical bills, and one in 10 were unable to pay their medical bills at all.

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