Can Bankruptcy Help With Medical Debt?
The rising cost of health care has affected people of all income levels. But when those medical bills are unexpected, they can have a devastating effect on your finances. To exacerbate the situation, medical bills are accompanied by lost wages from time away from work, and these ancillary expenses can be all the more problematic.
DiTocco Law Group, PLLC, can help you discharge your medical bills so you can start fresh. Once you file bankruptcy and begin working toward erasing your debt, creditors can no longer contact you. Typically, medical debt is unsecured, so you will not have to repay any of it.
Chapter 7 And Chapter 13 Options For Medical Bills
Our attorneys can help you determine which course of action is best for your bankruptcy. Depending on your circumstances, you may be able to choose between filing Chapter 7 or Chapter 13. Though there are differences between the two options, either one may be able to improve your financial situation. We usually recommend that you choose Chapter 7 if you qualify; however, not everyone qualifies. In those cases, many need to consider Chapter 13. Though there are differences between the two options, either can be used to improve your financial situation:
- Chapter 7: Generally speaking, Chapter 7 allows a debtor to discharge all of their medical debt with very little, if any, exposure to the debtor. In the majority of cases, medical debts will be discharged with no financial exposure to the debtor.
- Chapter 13: In certain instances, Chapter 7 is not a viable option. Therefore, we would explore Chapter 13. A Chapter 13 restructuring requires you to pay back some debt over time with the remainder being discharged. Our Boca Raton lawyers will work with you to determine to what extent this would help you with your medical bills.
While bankruptcy is complex, we can help you. We will meet with you at one of our convenient locations throughout Palm Beach, Broward or Miami-Dade counties to help you get out of debt.
Reduce Your Financial Stress Today
We have worked with numerous Florida residents to discharge medical debts through bankruptcy. Call 954-566-9000 today to arrange your free initial consultation. You may also email us for more information, if you prefer.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.