Considering Bankruptcy To Get Rid Of Your Medical Bills? You Are Not Alone! (Part Five Of Five)
By Kevin Gipson, New Orleans Bankruptcy Attorney on Apr 22, 2007 in Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General Bankruptcy Information, Louisiana, Personal Finance
So, what are your options when it comes to your medical bills?
Before filing bankruptcy, you might consider negotiating with the health care provider. Research has shown that 58% of those who have contacted a health care provider seeking to negotiate their medical bill were successful in getting a reduction.
If the medical bills are too great to pay and you have either few assets, or most of your assets are exempt, then you should consider a Chapter 7 bankruptcy. Under Chapter 7, the bankruptcy court will discharge the medical debt, and the debtor will no longer be responsible for the debt.
If you have significant assets that are not exempt from seizure you should then consider a Chapter 13 bankruptcy. Under Chapter 13, you will have to pay a portion of your medical debt based upon your income, but you will able to keep your non exempt property.
If you have more questions regarding medical bills, the attorneys of the Bankruptcy Law Network can assist you in making an informed decision regarding your medical bills .
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