Medical debt is a problem for Americans of all backgrounds and income levels, even people with good medical insurance. Whether your debt comes from a surgery, a catastrophic injury or illness, a high deductible or an uncovered expense, you may be considering bankruptcy as a means of dealing with something you simply cannot afford to pay.
The Good News
The good news is that bankruptcy is a highly effective way of addressing medical debt. An experienced bankruptcy lawyer can explain whether you are a good candidate for filing.
We can't stress enough that every debt situation is different — and that you should sit down with a professional if you think bankruptcy might be a viable solution for you. We also can't overemphasize the fact that medical debt is unsecured — and among the easiest types of debt to deal with successfully.
- In many cases, medical debt can be discharged through bankruptcy — done away with in Chapter 7 — or addressed through a workable payment plan in other cases.
- In many bankruptcy cases, you will be able to keep the same doctor even after discharging medical debt related to that doctor.
- In many cases, doctors are much more interested in insurance payouts than copays, and they will not come after you for payment.
- It is common for third parties to purchase medical debt — and suffer loss when they are unable to collect.
Get Help With Your Specific Situation
Your financial situation is unique, and so are your medical bills. You owe it to yourself and your family to sit down with an experienced attorney to discuss your options for resolving your debt problem. Contact Charles J. Schneider, P.C., based in Livonia, Michigan, for advice about hospital bills and medical debt.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.