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Medical debt forces man into bankruptcy - twice

Medical bills are well known as a major contributor, if not a direct cause, of many personal bankruptcies in the United States. There are so many tragic personal accounts of individuals who have struggled with medical debt after experiencing a serious and unexpected medical condition. That is why many Tennessee residents may find the following story very compelling.

According to a recent news report, a man who was born premature and who has endured health challenges all his life as a result was recently diagnosed with non-alcoholic cirrhosis of the liver. As a result, he needs a liver transplant that will cost more than $500,000.

While the man has health insurance, it will not cover the whole cost of his transplant. To pay for what his insurance won't, the man is holding a bake sale and bowling benefit to pay for his expensive medical procedure.

The reason that the man is resorting to such unusual measures to pay for his very necessary procedure is partly due to the fact that the man has already sought bankruptcy protection. In fact, the man and his family have already been forced to file for bankruptcy twice as a result of his medical bills.

Struggling with medical bills, especially following a serious medical condition that is significantly stressful on its own, is all too common for families throughout the United States. If someone finds themselves in this position, they should realize that there are more ways than most realize to manage debt and fix financial problems.

Source: The Salt Lake Tribune, "Utah man holds bake sales to pay for liver transplant," Kirsten Stewart, Oct. 21, 2012

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Mark T. Young & Associates
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Hixson, TN 37343

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