Medical Debts Growing Rapidly

As this challenging year draws to a close, millions of families are finding themselves out of work and in growing debt. The financial burden for most American’s spreads like wildfire in uncertain times of today when the choices between feeding the family or other living essentials. Unemployment also brings additional financial burdens to families as costs for necessities become too expensive, such as medical care.

Medical Debt Detours

It is all too common for people to end up financially insolvent over the high costs of medical care. Fortunately, medical debts are one of the easiest debts to manage when looking to eliminate debts. Out of pocket medical expenses can often be negotiated or even erased altogether with the right debt relief strategy. Chapter 7 bankruptcy can also be a quick strategy for eliminating medical debt, as they can be the first to be discharged in a bankruptcy. This is because medical debts are unsecured debts; meaning, they are not tied to your assets or estate as collateral.

When seeking to eliminate medical debts in a bankruptcy, most people find they are able to eliminate their unpaid medical bills with little to no cost. However, bankruptcy is not for anyone that is untrained or going it alone. In order to best protect the assets, income and estate property you do have, work with a Houston bankruptcy lawyer to ensure your debts are eliminated without risking the rest.