Medical Debt

According to CNN, medical bills prompt more than 60 percent of all bankruptcies in the United States. They concluded that 62.1 percent of the bankruptcies were medically related because the individuals either had more than $5,000 (or 10 percent of their pretax income) in medical bills, mortgaged their home to pay for medical bills, or lost significant income due to an illness. On average, medically bankrupt families had $17,943 in out-of-pocket expenses, including $26,971 for those who lacked insurance and $17,749 who had insurance at some point.

Overall, three-quarters of the people with a medically-related bankruptcy had health insurance, they say. Dealing with high medical bills can be a frightening proposition for many people, especially those who are still recovering from their medical problems. A prolonged illness can often result in job loss and a loss of job-based health insurance, which can drive up the amount of debt that these people face. Instead of focusing on their medical recovery, they are forced to deal with collection agencies, rising medical bills and the prospect of losing access to necessary medical treatments.

One of the best steps that you can take when dealing with rising medical bills is to contact an experienced bankruptcy lawyer who can advise you on the best options for your individual situation. Many individuals who have high medical bills have used credit cards to pay off the debts, but are now facing high credit card debts and rising interest rates. In order to stop this cycle of debt and to stop creditor harassment, you need the help and guidance of an attorney who understands what resources you may have and what can be done to help you out of this unfortunate situation.

At American Debt Relief, attorney Leonard J. Ackerman has helped countless numbers of individuals get out of debt. In most cases, you can discharge all required medical expenses in a Chapter 7 Bankruptcy. While plastic surgery and other cosmetic procedures are typically not eligible, if you have suffered a serious injury and have been unable to pay off your medical bills, bankruptcy may be a worthwhile option to explore.

Help and Advice for Ongoing Medical Issues

In some cases, people who are still undergoing medical treatments may be having difficulty paying off their medicals bills, but still need medical care. While they are considering bankruptcy, they also know that they will face more medical debt in the future that may not be covered in the bankruptcy. In these cases, the timing of the filing is critical, and hiring a lawyer is one of the smartest decisions that you can make. An attorney can advise you on how to deal with medical providers who you still require treatment from while discharging your current medical debt.

Don’t allow your credit to be permanently destroyed for the rest of your life because you had an unfortunate medical emergency ! Let us help you start over, and begin fresh without the huge burden of medical bills you can never afford to pay back.

At American Debt Relief, we believe that no one should have to deal with the burden of debt by themselves. Our firm is here to provide the legal assistance and the individual attention that will help you with your financial future. Contact Attorney Leonard J. Ackerman today for a Free Consultation!