Pesonal bankruptcies down 50% since the ACA was passed.

[PLC1]

How the Affordable Care Act Drove Down Personal Bankruptcy

As legislators and the executive branch renew their efforts to repeal and replace the Affordable Care Act this week, they might want to keep in mind a little-known financial consequence of the ACA: Since its adoption, far fewer Americans have taken the extreme step of filing for personal bankruptcy.
Filings have dropped about 50 percent, from 1,536,799 in 2010 to 770,846 in 2016 (see chart, below). Those years also represent the time frame when the ACA took effect. Although courts never ask people to declare why they’re filing, many bankruptcy and legal experts agree that medical bills had been a leading cause of personal bankruptcy before public healthcare coverage expanded under the ACA. Unlike other causes of debt, medical bills are often unexpected, involuntary, and large.

So, let's repeal it and see if bankruptcies go back up. It's a social experiment, after all.

 

[dogtowner]

Bankruptcy law was restricted too. Just sayin...

 

[PLC1]

Bankruptcy law was restricted too. Just sayin...

yes, it was, and the great recession wound down. That was mentioned in the link I gave.

 

[dogtowner]

yes, it was, and the great recession wound down. That was mentioned in the link I gave.

How far toward the bottom ?
The intent of the article was clear.

 

[PLC1]

How far toward the bottom ?
The intent of the article was clear.

A bout a quarter of the way down, we read:

First, he says, the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 made it more difficult for consumers to file for bankruptcy. The law required credit counseling and income verification and forced many consumers to seek protection under Chapter 13, which restructures, but does not eliminate, most debt. The piles of paperwork also meant most filers needed a lawyer, which made bankruptcy more costly and therefore not an option for many poor consumers.

From there, it discusses the economy.

The reasons are discussed at some length in the article. The conclusion is that the ACA is a factor, the economy isa factor, and the bankruptcy law is a factor.

The conclusion is that the ACA played a large part in the decline.

Check it out for yourself.