Bankruptcy and medical bills: Dealing with medical debt

Medical issues — including medical debt and time lost from work — are responsible for more than 66% of all bankruptcies in the U.S. — and medical debt alone accounts for more than 58% of these. People often think that medical debt has some special status. But if you consult with any experienced Brooklyn debt relief attorney, you’ll realize it’s actually just unsecured debt, no different from credit card debt.

Bankruptcy and medical bills have increasingly been linked as healthcare costs of skyrocketed over the last decades. And filing medical bankruptcy no longer has the same stigma that it used to have. Because everyone can relate to and is sympathetic to the situation. Also, it’s not something that just happens to the uninsured with medical bills. Bankruptcy is also a problem for fully insured Americans as charges get higher and insurance covers less and less.

It’s important to know that a Chapter 7 filing can help you wipe away your medical debt in the same way it can clean your slate of credit card debt. Additionally, in the event your income is too high and you are not eligible for Chapter 7 Bankruptcy, Chapter 13 Bankruptcy can also be used to help you significantly reduce your medical bills. Bankruptcy, remember, is not a state of being but rather a process and a legally sanctioned solution.

If you are struggling with medical issues, feel free to contact Brooklyn debt relief attorney Bruce Weiner with any questions for a free initial consultation.

Rosenberg, Musso & Weiner, L.L.P
26 Court St # 2211
Brooklyn, NY 11242, USA
718-855-6840
http://nybankruptcy.net/

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