Debt Harassment Lawyer
As you may have already experienced, costs for healthcare are increasingly on the rise. In fact, medical care is one of the top expenses that Americans must pay. Those who are dealing with medical bills unpaid may feel as though they will never be able to catch up. There are plenty of other bills that must be attended to as well, such as rent, groceries, medication, clothing, and vehicles. To make things more complicated, these medical expenses could have accumulated if you were recently involved in a personal injury accident, such as a car wreck, slip and fall, or workplace accident.
It is important for people to remember that if another party was at least partially responsible for the accident occurring, then they may owe you money in restitution. That is why it is often advised that anyone considering medical bankruptcy after a personal injury accident consults with an attorney first.
How Medical Debts Are Categorized in Bankruptcy
Someone who wants to get rid of their medical debts can also benefit from filing for bankruptcy if they have other outstanding debts that have been difficult to pay off. However, the choice to file for bankruptcy shouldn’t be taken lightly. This resource is really only appropriate for people who have so much debt compared to how much they earn, that they will continue to be fighting an uphill battle. Bankruptcy is a great way to restructure someone’s financial status for the long run.
Medical bills are viewed the same as credit card debt, personal loans, old utility bills, and money borrowed through other means. So, if you are filing bankruptcy with the priority to get your medical bills eradicated, chances are that other unsecured debts will be discharged too.
Income and Other Financial Details
In reality, with bankruptcy you cannot just pick and choose what debts you want dealt with. During the process of applying you will have to list every debt you have, along with real estate and personal property. It will be a requirement to disclose your income, including your spouse’s (even if they aren’t filing for bankruptcy). Other financial information such as debt payments, property transfers, property sales, and marital must be listed.
Types of Bankruptcy Chapters
There are six types of bankruptcy, including Chapter 13, Chapter 12, Chapter 15, Chapter 7, Chapter 11, and Chapter 9. The majority of people apply for either Chapter 7 or Chapter 13 bankruptcy. Filing for bankruptcy should never be viewed as a light or on-the-whim decision, as bankruptcy status will remain on a person’s credit report for up to 10 ten years. It is also important that a person files for the correct chapter, to ensure they are qualified and don’t worsen their financial situation.
Bankruptcy In Summary
To summarize, there are many bankruptcy chapters that a person may be eligible for. However, the decision must be made carefully and with guidance from a legal professional. If you are in medical debt due to a personal injury accident, then do not take any further action until you have received a consultation from a reputable debt harassment lawyer.