The cost of medical care can grow to be quite expensive. What can easily escalate this expense is if you are involved in a severe accident in which you incurred an injury, or if you are diagnosed with a serious illness. With this, you may be wondering if there is any possible way to relieve yourself of this financial burden. Continue reading to learn how bankruptcy may wipe out your medical debt and how an experienced Louisville, Kentucky consumer bankruptcy lawyer at Schwartz Bankruptcy Law Center can walk you through this possibility.
What does medical debt consist of?
To reiterate, medical bills can add up to be a significant financial burden. And when these medical bills are overdue, you may have the added stress of debt collection agencies coming after you. With that being said, you may find yourself in medical debt if you are unable to pay off the following expenses:
- The cost of your health insurance plan.
- The cost of your Medicaid and/or Medicare plan.
- The cost of your emergency room visits and/or doctor’s appointments.
- The cost of your prescription medicines.
- The cost of your necessary surgeries, treatments, therapies, etc.
- The cost of your necessary handicap equipment.
In turn, you may fall into further debt if your injury or illness prevents you from returning to work. What’s more, your injury or illness may require you to hire caregivers or domestic workers to assist you in your day-to-day home life.
Is it possible for bankruptcy to wipe out my medical bills?
You can rest assured knowing that a bankruptcy filing can help to wipe out your medical debt. This is because the Kentucky bankruptcy courts consider medical debt to be a type of unsecured debt. More specifically, it is a type of debt that is not associated with a piece of property (i.e., a house or a car) and is therefore able to be easily discharged. Importantly, this is doable so long as your medical bills date back to before your bankruptcy filing. So if you need to make a doctor’s appointment, undergo surgery, or otherwise amid your bankruptcy proceedings, you should first seek the guidance of your attorney.
That said, there are other debts that are eligible for discharge with bankruptcy. Just some that may apply to you are as follows:
- The debt you have incurred from your credit card bills.
- The debt you have incurred from your utility bills.
- The debt you have incurred from your lease obligations.
- The debt you have incurred from your personal loans.
For more information on how to clear out your unsecured debts, you must not hesitate in speaking with a skilled Louisville, Kentucky consumer bankruptcy lawyer. We await your phone call.