Hospital bills can reach absurd proportions, especially if you've had a serious operation or extended hospital stay. If you've had recent medical care, the unexpected burden of your huge medical bills may be enough to throw your finances into turmoil.
By filing for personal bankruptcy, you may be able to eliminate some or all of your hospital bill debt. In fact, bankruptcy may allow you to move on with your life and regain your financial health.
Is filing bankruptcy right for you? To connect with a local bankruptcy lawyer for a free consultation about personal bankruptcy and hospital bills, fill out the brief form below.
There are several tactics you could use to try to reduce your hospital bills. These include strategies like negotiating with your doctor or paying large fees upfront. Of course, these tactics are often impossible for working people with normal incomes - and especially those who have to miss work due to their injury or illness.
Fortunately, bankruptcy provides a way for some people to discharge their medical debts, including cumbersome hospital bills. There are two primary forms of personal bankruptcy, Chapter 7 and Chapter 13.
Through Chapter 13 bankruptcy, a filer can consolidate their debts, including hospital bills, into a single payment plan over the course of three to five years. This can allow a more reasonable time-frame to meet debt obligations.
Chapter 13 is designed for people with steady incomes, and it allows these folks to hold onto certain valuable property during the bankruptcy process. In fact, Chapter 13 personal bankruptcy may also allow you to:
If, however, you do not qualify for Chapter 13 because you are not employed or have limited income, Chapter 7 bankruptcy may be a better fit. In Chapter 7, the bankruptcy court may discharge some or all of your unsecured debts.
In addition to hospital bills, dischargeable debts may include:
So, if you do not have many assets, meet the eligibility requirements, and are looking for a quicker way to get rid of your hospital debts and other financial burdens, Chapter 7 may be a good fit for your financial needs.
While personal bankruptcy has helped many people with their hospital bills, bankruptcy laws vary by state. In addition, filing for bankruptcy involves local court rules, as well as the ability to meet specific guidelines and fill out complex legal forms.
As a result, bankruptcy filers often turn to local attorneys for more information. To learn more about the link between personal bankruptcy and hospital bills, contact a lawyer today.