In the United States, there are no medical bankruptcy laws or formal medical bankruptcy rules. However, thousands of Americans are filing bankruptcy attorney for medical bills. Recent studies by Harvard and Ohio State show that just over 60% of personal bankruptcies filed even before the current “financial crisis” were due to medical bills. This finding was widely suspected by those familiar with the country’s bankruptcy system, but never before had it been confirmed.
With there being no medical bankruptcy laws or medical bankruptcy rules, it is important to understand what your options are. The first thing to know is all medical bills are eligible for either a debt discharge or debt restructuring under both Chapter 7 bankruptcy and Chapter 13 bankruptcy laws. Filing bankruptcy for medical bills is a workable and proven way of dealing with excessive medical bills. To many this can be disturbing, but the legal consequences of not being able to pay them can be avoided through bankruptcy. Most people understand the purpose of bankruptcy is to discharge debts and in today’s economy there are no higher and more unattainable charges than the countries out of control medical charges. Until a more permanent solution can be found through Federal legislation, one of the few alternatives of dealing with totally unworkable charges is filing bankruptcy for medical bills. In many ways this is a sad commentary on the state of the country. The US is the only advanced industrial country that puts its population in this difficult position of having no alternative when dealing with medical costs.
Anyone facing serious medical bills needs to be fully aware that filing bankruptcy for medical bills is both a legal and ethical option that is open to them. While the US may not have medical bankruptcy laws, it does have a reasonably functioning bankruptcy system and it should be used by those who need relief by their filing bankruptcy for medical bills.More...
With there being no medical bankruptcy laws or medical bankruptcy rules, it is important to understand what your options are. The first thing to know is all medical bills are eligible for either a debt discharge or debt restructuring under both Chapter 7 bankruptcy and Chapter 13 bankruptcy laws. Filing bankruptcy for medical bills is a workable and proven way of dealing with excessive medical bills. To many this can be disturbing, but the legal consequences of not being able to pay them can be avoided through bankruptcy. Most people understand the purpose of bankruptcy is to discharge debts and in today’s economy there are no higher and more unattainable charges than the countries out of control medical charges. Until a more permanent solution can be found through Federal legislation, one of the few alternatives of dealing with totally unworkable charges is filing bankruptcy for medical bills. In many ways this is a sad commentary on the state of the country. The US is the only advanced industrial country that puts its population in this difficult position of having no alternative when dealing with medical costs.
Anyone facing serious medical bills needs to be fully aware that filing bankruptcy for medical bills is both a legal and ethical option that is open to them. While the US may not have medical bankruptcy laws, it does have a reasonably functioning bankruptcy system and it should be used by those who need relief by their filing bankruptcy for medical bills.More...
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