Law Office of Rick Morin, PC

According to this article from CNBC, medical bills are the biggest cause of bankruptcies. There are many reasons why people seek bankruptcy protection. Unexpected medical bills can be especially devastating. Why struggle with medical debt if you don’t have to?

Medical bills can be difficult to deal with for a number of reasons. First, they typically come as a large surprise. A person might be involved in a bad car accident or fall victim to a devastating illness. These events are impossible to plan for. Second, unless a person has good insurance coverage, serious injury or illness can be very expensive.

I have seen clients with medical bills well over $100,000. It can take a very long time to pay off such a large debt. And that is if your medical provider will let you make payments without interest. Most won’t.

Filing bankruptcy because of medical debt is a difficult decision. If your medical bills are a large burden on your life and impacting your recovery, bankruptcy can help alleviate this stress.

A person thinking about bankruptcy because of medical debt has a very important decision to make. No one should take the decision to file bankruptcy lightly. However, bankruptcy is an effective tool that allows a person to get their life back on track.

Some people think that medical bills are not dischargeable in bankruptcy. This is not true. Almost all medical debt is considered “unsecured debt.” With a few exceptions, all unsecured debt is wiped out in Chapter 7 bankruptcy — including medical bills.

A fresh financial start is critical for people recovering from catastrophic injury or illness. Don’t let the stress and uncertainty of large medical bills delay your recovery. Bankruptcy can provide immediate relief.

Please contact my office if you have any questions about bankruptcy and medical bills. I can be reached at (916) 333-2222.