Minnillo & Jenkins, CO. LPA
Call 513-723-1600
For A No-Pressure, Free Consultation

Bankruptcy: Medical debts and their impact on retirement

Many individuals in Ohio and across the country place a high priority on having a plan in place for the future. After spending years saving and planning for retirement, an individual might not want anything to disrupt his or her current strategy. Unfortunately, one medical emergency might be all it takes to leave one facing a seemingly insurmountable amount of debt, potentially prompting a need to seek assistance through the available outlets for relief, such as bankruptcy.

While there are numerous scenarios in which one might experience the burdens of debt, medical bills are one of the most prevalent concerns for those of a certain age. With the extensive costs of medical treatment, an emergency could leave a person facing a substantial financial hardships. Since a similar situation can happen at any moment, it can be difficult to plan for, and for those living on a fixed budget, the outcome could prove devastating.

Individuals who are closing in on retirement age, or who are currently retired, might not have enough saved up to cover the cost of an unexpected medical issue. Even for those with insurance, their plan may only cover a certain amount, which may leave them facing substantial monetary obligations. When forced to experience a similar scenario, many may wish to protect their financial futures, but they might be uncertain where to turn for guidance.

Those who suffer due to significant amounts of medical debt could benefit from seeking advice from an experienced attorney. A bankruptcy attorney can provide a client with advice on the options available and their potential outcomes. An attorney in Ohio can address a client's financial situation, along with his or her concerns and wishes, and provide advice and assistance in choosing a path with which to pursue relief from debts.

Source: fool.com, "More Retirees Than Ever Are Filing for Bankruptcy -- Here's Why", Katie Brockman, Dec. 16, 2017

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Contact us right now for a free bankruptcy consultation

NACBA - National Association of Consumer Bankruptcy Attorneys

Proud Member NACBA

We are proud members of the NACBA, a national organization dedicated to serving the rights of consumer debtors. Read More

Super Lawyers

Jenkins Named Super Lawyer!

Founding partner, Christian A. Jenkins, was selected by his peers and the media as a Super Lawyer. Read More

Cincinnati Office
2712 Observatory Avenue
Cincinnati, OH 45208

Phone: 513-723-1600
Cincinnati Law Office Map

Cincinnati Office
792 Eastgate South Dr
Suite 150
Cincinnati, OH 45245

Phone: 513-685-0612
Cincinnati Law Office Map

Fairfield Office
447 Nilles Rd
Suite 9
Fairfield, OH 45014

Phone: 513-795-0995
Fairfield Law Office Map

Covington Office
526 Philadelphia St.
Covington, KY 41011

Phone: 513-795-0995
Map & Directions