You have probably heard the saying that you can’t afford to be sick in America. This sad statement is truer now more than ever. I recently read a survey stating that more than 60 percent of insured Americans with medical bills sacrifice their life savings to pay those medical bills. This same survey said that 42 percent of respondents are forced to find a second job to pay the debt while 37 percent of them have to borrow from friends or family to pay the medical debt. You never know when a medical emergency is going to hit you, which makes it very difficult to plan for. What is one to do?
Most doctors and hospitals these days sell their debt to collection agencies so if you are having trouble paying a medical bill, you are likely to be hounded by a debt collector at some point or another. In fact, over 60 percent of people struggling with medical bills are daily contacted by collection agencies. It may sometimes seem like there is no escape.
Thankfully, there is some hope if you are struggling with medical debt. If you have medical bills that are stacking up and you need some relief, Chapter 7 bankruptcy can help you to discharge or wipe out those debts completely. Your second option is to file a Chapter 13 bankruptcy where you would pay the medical bills off at some percent, depending on your assets and income. If you have a higher income or amount of assets, you may pay more to these debts than someone with lower income and a lower amount of assets.
There are certain criteria that you must meet to qualify to file bankruptcy, which is why you need an experienced bankruptcy attorney to help you through the process. At the same time, bankruptcy can help you with your credit cards, loans and other debt.
Please give me a call at 281-847-4345. I’ll be happy to sit down with you for a free, no obligation consultation to evaluate your situation and inform you of your different options on taking care of that medical debt through bankruptcy. You can also send me an email at firstname.lastname@example.org. I look forward to hearing from you soon.
Rod S. Kemsley
KEMSLEY LAW FIRM, P.L.L.C.
Attorneys & Counselors at Law
505 N. Sam Houston Parkway E., Suite 400
Houston, Texas 77060