Get Rid Of Medical Debt
Medical debt can catch you by surprise. A medical crisis can cause medical expenses to skyrocket, and many people are unprepared for the bill that follows. Neonatal care, chemotherapy, rehabilitation and other treatments can wipe a family out.Thousands of Americans struggle to manage hospital bills and other medical debt. The rising cost of health care means this number continues to grow.
If you have not considered bankruptcy before, now may be a good time. Bankruptcy laws recognize the special nature of this debt and have special rules for people with medical debt.
Talk to an attorney at The Law Offices of Ronald I. Chorches. Our firm has decades of experience helping people take care of debt through bankruptcy and other debt relief solutions.
What Is The Advantage Of Filing Bankruptcy?
It is not unusual for people who want to pay their debts out of a sense of duty, but the truth for most people with medical debts is that the debt is simply too great to pay back. You should not have to pay for the rest of your life for an event you did not plan for. Bankruptcy provides a way out.
There are two kinds of bankruptcy most individuals choose. Chapter 7, which discharges (and essentially eradicates) unsecured debts like medical debt and credit card debt.
Chapter 13 bankruptcy is another option. It involves people making payments to the court over a period of three to five years. Generally, most people only end up paying back a small portion of their debt in Chapter 13. Any unsecured debt remaining at the end of the payment period is discharged.
What Is Medical Bankruptcy?
Often people choose to pursue Chapter 7 bankruptcy. For most, the top concern is qualifying for bankruptcy. To be eligible to file Chapter 7, individuals must pass the Means Test, which looks at income and expenses for a household.
Individuals whose medical debt is more than 50 percent of the total debt (including mortgage) may pursue a medical bankruptcy. Individuals filing this type of bankruptcy do not have to pass the Means test.
Let Us Answer Your Questions About Medical Debt And Bankruptcy
The Law Offices of Ronald I. Chorches in Hartford, Connecticut, is a firm with decades of bankruptcy experience. Debt relief is our singular focus. We are known for excellent client service and complex problem-solving. Our attorneys can answer questions like:
- Is it worth it to file for bankruptcy if my only financial problem is my medical bills?
- What will happen to my credit if I don’t pay these medical bills?
- Can I get rid of my credit card debt at the same time as my medical debt?
- Is Chapter 13 useful for dealing with unsecured debt like medical bills?
- Does the Fair Debt Collection Practices Act protect me from the harassment of medical bill collectors?
Every debt situation is different. You may be able to address your medical debt with or without bankruptcy. The important thing is to get the professional guidance you need.
Call Us For A Free Consultation | We Will Evaluate Your Situation Carefully
Talk to a highly experienced bankruptcy lawyer about your debt profile. You may be surprised to learn about the debt relief options you have. Schedule your free consultation with a lawyer at our firm or call 860-952-3878 to discuss your options.