When you consider bankruptcy in Illinois and the reasons why it happens, you may think of things like poor spending habits, credit card debt, poor money management or a failed career. However, according to a recent study, the biggest cause of bankruptcy in the United States is actually medical debt.
The numbers that came out in 2013 showed that around 2 million people had to file for bankruptcy based on their medical debt. Furthermore, the study showed that health insurance -- though helpful in some cases -- did not always mean that people could avoid bankruptcy due to mounting debt. Even insurance may not cover enough to make medical care affordable.