The cost of health care in the United States continues to grow every year.  Unfortunately, most health insurance plans simply do not cover every medical expense you may incur. Most individuals incur medical expenses in the form of regular doctor visits and prescription medications. However, some people suffer from serious illnesses, injuries or other trauma that require a substantial amount of medical care. The cost to receive this care is astronomical and can leave patients with thousands of dollars in medical bills. When the medical bills pile up, people simply cannot make the necessary payments each month.  Leaving themselves stuck in a situation with no way out. Some people refer to this as needing to file a medical bankruptcy.  If so, our Claremore bankruptcy attorneys can help you discover bankruptcy options.

If you become seriously ill or received serious injuries, and are unable to work, you have lost the income you need to maintain your ordinary household expenses. Even if you receive some compensation through disability benefits, the compensation is not the same amount you were receiving when you were able to work. The decrease in income has a large impact on your everyday living expenses. However, if you take into consideration the additional medical expenses incurred as a result of your illness or injury, it is understandable how you could quickly find yourself in debt and start to consider medical bankruptcy.

Managing Medical Debt in Bankruptcy:

Once you have acknowledged that you are no longer able to manage your debt, you should consider your various options for addressing the debt and paying it off in a way that will allow you to manage your everyday expenses. Most health care providers have payment plans.  These allow patients to make a relatively reasonable monthly payment without having to incur interest. But, if you have multiple medical bills, even having reasonable repayment plans may be too much.

Some individuals may choose to negotiate and settle their debt with the health care providers, but when dealing with medical bills, filing for bankruptcy helps to control the debt as a whole. Filing for medical bankruptcy will prevent your health care providers from pursuing collection activities because you have been unable to make your monthly payments. By filing for medical bankruptcy, whether it be Chapter 7 or Chapter 13, you can tackle your debt head on so that you can reasonably pay what you owe and move on with a clean slate.

Medical Bills are Not Your Fault:

Medical bills are unlike other types of debt in that they are not voluntary expenses. If you become ill from catching a dangerous flu, and you must receive care in the hospital for longer period of time, you will be responsible for the consequential medical bills. Credit cards and personal loans can also lead individuals into debt.  This type of debt is voluntary and the individual has more control over how much to spend. With medical bills, you cannot control the cost when the medical care you are receiving is absolutely necessary. As you recover from your illness or injury, you will hopefully be able to minimize the amount of medical bills you will incur; however, in the meantime, filing for bankruptcy will consolidate your debt to eliminate it all at once.

Having good health insurance can certainly help to prevent you from incurring a mountain of medical bills.  A majority of your medical expenses would be covered under your health insurance plan. Some people have secondary insurance to cover the cost that the primary insurance would not cover. However, even with good health insurance, there will still be a cost that must be accounted for. There are limits on health insurance policies.  Anything beyond the limit is left to the injured or ill individual to pay. This coupled with your credit card debt, unpaid loans, and other debt, can be devastating to your financial situation. By choosing to file for medical bankruptcy, you will be tackling not only your medical debt but will be eliminating all of your other debt as well.

Contact a Medical Bankruptcy Attorney in Claremore

If you are facing crushing debt a bankruptcy may be the answer for you. Our Claremore bankruptcy attorneys help people get out from under the constant pressure of out of control debt. You can file a bankruptcy and still keep your house and car so dont hesitate. Call Kania Law Office’s Claremore Bankruptcy Attorneys for a free consultation 918-379-4872 or read our Claremore attorneys blog for more information.