Medical Debt is Unsecured Debt
Since medical debt is unsecured, it's the easiest form of debt to discharge with either Chapter 7
or Chapter 13 Bankruptcy.
Eliminating Medical Bill Debt
Nearly 20 percent of U.S. consumers, totaling 42.9 million people, have unpaid medical debts. Many who consider filing for either Chapter 7 or Chapter 13 Bankruptcy do so with debt from medical bills in mind.
The good news is that debt from medical bills can be entirely forgiven or "discharged" with both Chapter 7 and Chapter 13 Bankruptcy.
Under Chapter 7, the debt is entirely forgiven; with Chapter 13, the debt is either entirely forgiven, or a portion of the debt could be paid back over 3 or 5 years.
Meeting with a Bankruptcy Lawyer
When filing either Chapter 7 or Chapter 13 Bankruptcy, medical debt needs to be listed in the Bankruptcy paperwork in order to be discharged.
When meeting with a Bankruptcy Lawyer, it's best to either bring all medical bills with you, or to have the total medical debt handy. This information will be needed by the attorney when recommending the right type of bankruptcy for your situation.
To meet with a bankruptcy lawyer, fill out our quick appointment form.
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