Could a car crash send you into bankruptcy?

Could a car crash send you into bankruptcy?

How quickly can life change? If you’re in the car, all it takes is a split second. Someone could cross the center line and hit you while sending a text, or they could run a red light because they’re intoxicated. It often happens so fast that there is no way to slow down or avoid that accident.

Even if you survive and recover from your injuries, the accident could have a profound impact on your life. Could it even send you into bankruptcy? It’s certainly possible.

The high cost of health care

After all, medical bills are a leading cause — the leading cause, according to some studies — of bankruptcy in the United States. We have world-class health care and medical services, but they also come with a massive price tag. For many people, the injuries suffered in an accident will be so expensive that they can never afford to pay off those bills. There are plenty of cases with people who earn $50,000 a year ending up with millions of dollars in medical bills. They will never enough to pay them off, let alone enough to cover their other normal costs of living.

As you can see, the harm that you can suffer if you’re involved in a car crash can be financial as well as physical. The doctors may be able to handle the physical side, but can you handle that financial side? This is why you need to know about all of your legal options for seeking compensation if that other driver was the one who caused the crash.