It has been termed “a uniquely American phenomenon.” And it is an always front-and-center issue for scores of millions of individuals and families across the country trying to make ends meet financially.

Many Arkansas residents are intimately familiar with the phenomenon, which might more aptly be termed a “challenge.” What centrally occupies them and legions of other Americans in a most worrisome way is medical debt.

Indeed, there is plenty to worry about concerning that topic. The costs of medical care can seem exorbitant even for policyholders who have existing insurance coverage. Many – likely most – Americans don’t have sufficient cash readily at hand to cover the entire costs of a scheduled medical procedure.

Ditto that in spades for an emergency that arises. That prospect is akin to a nightmare even for people who don’t consider themselves to be unduly challenged financially. Spiraling medical costs can force a family to materially cut corners across multiple dimensions.

In fact, spiked outlays can – and often do – lead to financial ruin. A recent Atlantic article on the close link between medical bills and insolvency duly notes that. It stresses that “nearly 60 percent of people who have filed for bankruptcy said a medical expense ‘very much’ or ‘somewhat’ contributed to their bankruptcy.”

Does that make unexpected health-related costs the overriding catalyst spurring bankruptcy filings in Arkansas and nationally?

Arguably, it does. One recent survey underscores that unmanageable medical costs factor into bankruptcy more often than do challenges linked with home mortgages and student loans.

Proven Arkansas debt-relief attorneys note well the stark financial challenges that medical costs yield for many state residents. At the Little Rock family law firm of Robertson, Oswalt & Associates, we acknowledge the “unbelievably high medical bills” that people often have to deal with.

Our experienced legal team helps them do just that, exploring opportunities — including bankruptcy – to reduce daunting debt levels and regain economic traction.

We welcome contacts to our firm from individuals and families seeking to proactively address and reemerge from debt challenges with a fresh financial start.