Lancaster Medical Debt Lawyers
Millions of people are struggling with medical debt, which is no surprise. The cost of healthcare has exploded over the past 20 years, and even those Lancaster residents with health insurance end up with hefty deductibles, copays, and out-of-network expenses. A heart attack or cancer could land someone in tens of thousands of dollars of medical debt—and with no way to pay for any of it.
If you are staggering under medical debt, bankruptcy might be the best option for you. Medical debt can lead to aggressive collections efforts and emotional distress. Now is the time to do something about it by calling Wadhwani & Shanfeld to speak with our Lancaster medical debt lawyer.
How to Eliminate Medical Debt—Fast
One way to eliminate medical debt is to file for a Chapter 7 bankruptcy. This option is great at discharging (eliminating) unsecured debt like credit cards and medical debt. The process takes less than 6 months for most people. When you finish, any unpaid medical debt should disappear.
Please meet with a lawyer to discuss the following issues:
- Timing. It matters when you file. If you are still receiving expensive medical treatment, then you might want to wait until you complete it. File too early, and some of your debt won’t be discharged, and you’ll have to wait several years before you can file for bankruptcy again. It’s difficult to wait, but you want to eliminate as much debt as possible with your filing.
- Your assets. With a Chapter 7, the trustee overseeing your bankruptcy can take assets you own and sell them. Whatever money is raised gets distributed to your creditors. Helpfully, California law exempts many assets, like 401(k) accounts and some equity in your home. But go through all your assets with a lawyer to see if you will lose anything.
- Alternatives to Chapter 7. You might get on top of medical debt by filing for Chapter 13 bankruptcy protection. This is a more onerous bankruptcy. You create a reasonable repayment plan and need to stick with it for 3 or 5 years, but unpaid debt is discharged at the end.
In our experience, Chapter 7 is a terrific option for those with not too many assets to their name but with crushing medical debts. You can also include credit card debt, personal loans, and payday loans in your bankruptcy petition to finally get a new financial start.
Is it Possible to Be Free of Medical Debt?
Yes, it is. Wadhwani & Shanfeld has helped more than 25,000 people file for bankruptcy protection in California. Our legal team takes pride in helping clients think through their options so that they are comfortable with their choices. If you decide bankruptcy is right for you, we can complete the paperwork and file your petition in the appropriate court. Once your case is filed, all collection efforts, including late night phone calls and letters in the mail, should stop. To find out more, call our Lancaster medical debt lawyer.
