Bankruptcy and medical bills: Dealing with medical debt

Medical debt is responsible for over 60% of all bankruptcies in the U.S., and New Yorkers are no exception. 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 than credit card debt.

Bankruptcy and medical bills have increasingly been linked as healthcare costs of skyrocketed over the last decade. 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 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 Attorney Brooklyn NY, Chapter 13 Bankruptcy Attorney Brooklyn NY 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 debt, 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/

Recent Posts

Beware Grace Periods, Debtors

February 7, 2022

Too often, debtors see grace periods offered by lenders as free benefits. “Grace” makes it sound so innocent. However, debtors who routinely rely on grace periods when making payments will find themselves facing financial difficulties that might lead to bankruptcy. The reason is that although creditors offer grace periods to debtors, they also use them

Bankruptcy May Not Rescue You From Vicious Personal Disputes

January 21, 2022

Bankruptcy is a technical process that assumes everyone working within it is mostly rational. To the extent that it expects parties to deviate from irrational behavior, the Bankruptcy Code and its accompanying rules include incentives to keep parties in line. Creditors are usually large and impersonal, and they rarely care if their debtors file bankruptcy.

Non-Lawyers’ Explanations of Bankruptcy May Be Wrong

January 10, 2022

Do you have financial problems? Do you tend to ask your friends for advice? Is one of your friends an experienced New York bankruptcy lawyer who will explain the process for you? Are your friends otherwise knowledgeable people? The answer to these questions may be, “Yes but you don’t know it.” Although many bankruptcy lawyers

6 Steps to Take Before Filing Bankruptcy

January 3, 2022

Leaving your case to an experienced New York bankruptcy lawyer is not the only step on the to-do list before filing bankruptcy. There are many things debtors should do (and not do) before they file, and the more organized and mindful debtors are, the easier the process will be and the more effective the result.

Social Security Number Not Necessary for Bankruptcy

December 2, 2021

A question that’s commonly asked about New York bankruptcy is whether a debtor needs a Social Security number to file. Debtors ask because they sometimes run across the bankruptcy form title, “Your Statement About Your Social Security Numbers” (B 121), which asks debtors to list their current and prior Social Security numbers. The new bankruptcy

How Can a Debtor (or Creditor) Get a New Trustee?

November 19, 2021

The trustee in a New York bankruptcy case is usually not the debtor’s ally. His or her purpose is mainly to administer the bankruptcy estate or ensure the debtor’s repayment plan goes according to plan. Trustees pursue preference payments, fraudulent conveyances, and other malfeasance committed by debtors. They frequently initiate adversary proceedings against debtors. In

Free Consultation

(718) 855-6840

The office is open as per the NYS Covid-19 guidelines. We are now doing both in-person and telephone consultations. Please call the office at 718-855-6840 to schedule a time to speak with one of our experienced bankruptcy attorneys.