Bankruptcy Filings – Can Obamacare Reduce Filings?

Bankruptcy Filings – Will Obamacare Reduce Bankruptcy Filings


In a recently published article entitled “The Future of Personal Bankruptcy in a Post-Obamacare World,” The Wall Street Journal takes the position that a mandatory health care system designed to give people access to affordable health insurance will reduce the number of personal bankruptcy cases.


As we have noted in previous articles on our blog, medical expenses are one of the major reasons for bankruptcy filings.


The Wall Street Journal article, focusing on a case study in the state of Massachusetts, concludes that mandatory nationwide health insurance will make families more financially stable and keep them out of bankruptcy.



President Barack Obama himself has pointed out that 62.1% of consumer bankruptcies are medical bankruptcies, citing a study Sen. Elizabeth Warren (D., Mass.) co-wrote as a Harvard law professor.


With that said, mandatory health insurance has not saved Massachusetts – or the others states – from bankruptcy filings.


Massachusetts ranked 10th best bankruptcy filing rate in the United States, 11th if the District of Columbia is counted.


During 2014, Massachusetts residents filed at a rate of 154 bankruptcy cases per 100,000 people. That is slightly better than New York at 162 cases and well ahead of the national average of 292.


Our conclusion is that a personal bankruptcy will continue to be caused by a multitude of factors, and rarely will medical bills alone cause a bankruptcy filing.

With that said, ObamaCare may save a few individuals – perhaps thousands – from bankruptcy, and that is a good thing.


Bankruptcy Attorney
Brian D. Poe, Esq., General Counsel, Ducere Investment Group

If you are interested in filing bankruptcy due to creditor harassment, foreclosure, garnishment, lawsuits, mounting debt, repossession or other collection issues, and need more information about Chapter 13 bankruptcy — or Chapter 7 bankruptcy, please set up an in person consultation with an experienced bankruptcy lawyer at Georgia Bankruptcy Attorneys (d/b/a Brian Poe & Associates, Attorneys, PC), an Atlanta law firm with satellite offices in Buckhead, Fairburn, Forest Park (Clayton County), South Fulton County (less than 10 minutes from the Atlanta airport), Union City, and various other locations in North Georgia, in addition to our downtown Atlanta office.


With affordable rates in comparison to bigger law firms, we accept payment plans and offer other flexible pay arrangements if you have a job or other income, and are committed to paying.


Wage Garnishments


Wage Garnishment.  In this Wage Garnishment video, Bankruptcy Law Attorney, Winn Keathley explains the affects of Automatic Stays on Wage Garnishments, and how the Automatic Stays can aid you.


The Automatic Stay places certain restrictions on creditors after you file for bankruptcy.



Bankruptcy Law Attorney, Winn Keathley

He is the courtroom attorney primarily for the Atlanta courts, but also has experience in the Gainesville and Newnan courts.

Mr. Keathley received a J.D. from Georgia State University School of Law in January 2010.

He earned B.A.s in History and Political Science from Trinity University. Mr. Keathley is a member of Phoenix Lodge #131, Al-Menah Shrine chapter and the Tennessee Scottish Rite.

In his free time, he enjoys board games, science fiction and playing with his two little girls. His website address is