Millions Of Americans With High Medical Bills Declare Bankruptcy

Imagine yourself on a typical journey through life. You’re married with kids. You are living a middle class life with an attractive home, nice cars, a good job and good insurance. Everything seems to be going along fine until the unthinkable happens – you are in an accident which causes you multiple injuries.

So now you are in the hospital. You’ve been here for several weeks. Of course you haven’t worked for those weeks, but so far your manager is holding your job for you. Your benefits are still being paid; currently all your bills are still being covered by insurance.

But time passes by quickly, and you’re still recuperating from your injuries. You’ve lost your job and the medical bills are piling up. You can no longer manage to pay for insurance. And you can no longer come up with the money to pay your medical bills. What are you going to do?

This scenario represents is a common occurrence in the United States. Many middle class Americans find themselves in a no-win situation when it comes to medical bills for themselves or a family member. A sad reality is that medical bills are one of the leading causes of filing for bankruptcy in the United States And, it isn’t just the uninsured who are being contacted by the collection agencies for overdue bills. It’s the well-insured middle class as well.

The first goal is to recover your physical well being so you’ll be able to work and rebuild your financial health. Additionally, you may need to declare bankruptcy to eradicate your debt. Filing bankruptcy is a complicated issue, especially if medical bills are the main cause for your debt. While you may wipe out or restructure your current debt, undoubtedly you may still need to obtain medical care from the doctors and therapists with whom you’ve just named in your bankruptcy petition.

Hiring bankruptcy lawyers can be a helpful way to figure out this whole medical bill debt situation. While it may seem counterintuitive to spend this money when you’re about to declare bankruptcy, the reality is that U.S. bankruptcy attorneys specialize in assisting clients like you find the best path to financial recovery. They are familiar with the inner workings of the laws and codes in the United States and can steer you on the best path. They can clarify the difference between filing Chapter 7 and Chapter 13 Bankruptcy. They will familiarize you with the complete bankruptcy filing procedure, from pre-bankruptcy counseling straight through to credit repair and establishing good credit at the end. They will field all further inquiries from collection agencies and eliminate your financial worries while you work to heal your physical situation.