What is the #1 reason for bankruptcy filings?

August 23, 2017

What would you think is the #1 reason for bankruptcy filings in the U.S.? Layoffs? Credit card debt? Uncontrolled spending?

According to the Kaiser Family Foundation's research, over 25% of adults in America struggle to pay....their medical bills. This statistic includes those with insurance. The fact is,  medical debt is the number one cause of personal bankruptcy filings. In recent studies, 40% of Americans hit their debt ceiling due to a medical issue.


Read more in an article on the subject here.


If you have found yourself in a difficult financial situation and are seeking help, we have several legal options that could provide relief. Contact us at the law office of T. Verner Smith for information about our debt resolution and/or bankruptcy options. These laws are in place to help Tennessee residents who are struggling in order to protect them from even more dire circumstances. Don't hesitate to contact us. This first step could get you on the pathway to getting your life back. Call our offices at (731) 423-1888, (901) 730-4567, or (615) 371-6136.  

Please reload

Featured Posts

In a wreck because someone hydroplaned?

October 29, 2019

Please reload

Recent Posts
Please reload

Please reload

Search By Tags