It’s an unfortunate reality that many people are unable to afford their medical bills. Through no fault of their own, they find themselves buried in medical debt due to an accident or illness in which medical attention is required. Sadly, medical debt happens to be the main driver to file bankruptcy for a large amount of bankruptcy filers. The notion that bankruptcy filers are people that voluntarily spent their money recklessly is simply false. We very rarely incur such a person. Simply put, nobody chooses to needlessly incur medical debt; it’s completely involuntary because it’s something that may literally be the difference between life and death. The good news is that medical debt will be eliminated in a Chapter 7 bankruptcy and a Chapter 13 bankruptcy. An experienced bankruptcy attorney at JRQ & Associates will thoroughly review your situation at your free bankruptcy consultation and determine your best course of action.
What happens if I do not pay my medical debt?
The medical debt will eventually be turned over to a collection agency and you will start being harassed by creditors. Your credit will start to take a major hit and continue to get worse the longer you go without taking care of it. You may eventually be sued and have a judgment entered against you. The creditor can then attach a lien to your home and potentially garnish your wages. A Chapter 7 bankruptcy or a Chapter 13 bankruptcy can eliminate medical debt and stop all of this immediately. It’s imperative to speak to an experienced bankruptcy attorney at JRQ & Associates if you’re dealing with this type of situation.
Medical debt in a Chapter 7 Bankruptcy
Medical debt is completely dischargeable in a Chapter 7 bankruptcy. This means that the medical debt will be completely eliminated and you will get a clean slate. A Chapter 7 bankruptcy will also wipe out most other debt as well.
Medical debt in a Chapter 13 Bankruptcy
A Chapter 13 bankruptcy is available for people that do not qualify for a Chapter 7 bankruptcy or for those that would benefit more from a Chapter 13 bankruptcy. You will pay back a portion of the medical debt through a monthly repayment plan. The amount not paid during the Chapter 13 bankruptcy will be eliminated. Often times, you will only end up paying back pennies on the dollar of the debt that you owed.
The experienced bankruptcy attorneys at JRQ & Associates are incredibly sympathetic to people that need to file bankruptcy due to medical debt, so we offer a special discount to those that fall into this category. Set up a free bankruptcy consultation with one of our experienced bankruptcy lawyers at JRQ & Associates today to see how we can help with your current debt situation. We’ll help you eliminate your medical debt and start over.
