Medical Debt
What is the number one reason for declaring bankruptcy? It’s not credit cards or underwater real estate. According to a study by a consumer rights group called NerdWallet, it’s hospital bills.
A Threat To Your Financial Health
Medical bills can drag anyone down, even people who have health insurance — because insurance doesn’t usually cover expenses such as:
- Many prescription drugs and devices
- Lab costs
- Expenses above set coverage limits
- Procedures that are not covered
- Preventive health services such as vaccinations
- Deductibles
- Copays
- Insurance premiums
And if you are not covered at all, a single hospital stay can devastate your finances.
What Can You Do?
Most health care organizations and clinics are corporate affairs, not interested in negotiating your bills. Instead, they just pass your account to a collector, and your credit rating suffers immediately.
Your best hope to eliminate medical debt is through Chapter 13 or Chapter 7 bankruptcy. The day you file, a message is sent to creditors forbidding them from trying to collect on your medical debt.
We Can Help
Because medical bills are not collateralized, your debts can be whisked clean in personal bankruptcy. Let the lawyers at McBride Law Firm in Alexandria guide you through this process.
Getting sick or being injured should not ruin your financial life. Call our Jackson Street office at 318-625-0471 or just walk in during regular hours. Our skilled attorneys will show you how to move past unpayable medical bills and take a fresh run at financial health.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code