Irvine, CA, May 29, 2011 ?(PR.com)? The Cohen Firm has announced the launch of a new facet of the bankruptcy practice to meet the needs of individuals in Southern California who are going through a financial crisis because of medical debt.
According to a study reported by the American Journal of Medicine in 2009, over sixty percent of bankruptcies in the U.S. stem from medical costs. The study also observed that three quarters of medical debtors had health insurance.
Although there is no such thing as a ?medical bankruptcy? medical debt can be reduced or eliminated through filing a Chapter 7 or Chapter 13 bankruptcy.
?Bankruptcy is a financial option that should at least be considered by those individuals who are overwhelmed by debt acquired from health care costs,? states Isaac Cohen, senior partner of The Cohen Firm. Because medical emergencies and health care complications can result in both emotional and financial turmoil, the Cohen Firm believes that consulting an attorney during such periods might reduce some of the uncertainty.
The financial strain of paying for personal medical bills or the health care costs of a loved one can have a tremendous negative impact on a person?s financial health. A person will go to great financial lengths for themselves or the people they love, accruing enormous amounts of debt in order to cure or extend a life. Unfortunately, most people do not have the means or comprehensive health insurance plan to financially survive a medical emergency. The economic downturn of the past three years has only worsened the danger posed by health care debt, a problem the Cohen Firm wishes to address by designing a specific bankruptcy service for people who have been affected financially by medical costs.
According to their website page, the Cohen Firm has been helping people through the bankruptcy process in Southern California for over fourteen years. In addition to experienced legal service, Mr. Cohen firmly believes that compassion, patience, and care are elements that need to be provided to every individual who is considering filing for bankruptcy. The Irvine law firm seeks to extend this philosophy to those individuals
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Article Source: http://www.pr.com/press-release/327656
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