Sherman Oaks Medical Debt Lawyers
The cost of medical care has gone up year after year, to such rates that even insured patients are slammed with five digit bills. For the uninsured or minimally insured, the cost of care can be even higher. Regardless of your insurance status, an attorney may be able to help discharge all or most of your medical debt. The Sherman Oaks medical debt lawyers at Wadhwani & Shanfeld are here to help you get back on your feet and put the past behind you once and for all.
Medical Debt Can be Fixed by Filing for Bankruptcy
While bankruptcy has a negative connotation in our society, it can actually be used to produce a positive outcome when it comes to many types of debt, including medical debt or credit card debt caused by medical expenses. The most useful types of bankruptcy in medical debt scenarios are Chapter 7 bankruptcy and Chapter 13 bankruptcy.
- Chapter 7 Bankruptcy—Because medical debt is unsecured debt (meaning there is no collateral tied to it, such as a home or vehicle) it can be fully discharged by filing for Chapter 7 bankruptcy. As such, Chapter 7 is often the preferred choice for discharging medical debt that a borrower simply cannot afford to pay. Chapter 7 does not require you to create a repayment plan, and you generally get to keep all of your property as well. The main downside of Chapter 7 is the damage that it does to your credit score, making it harder to obtain loans in the future.
- Chapter 13 Bankruptcy—Chapter 7 does not work for everyone. For people with high incomes, Chapter 13 bankruptcy may be their only bankruptcy option to discharge medical debt. Unlike Chapter 7, Chapter 13 requires debtors to repay part of their debt over a specified number of years (three to five years) during a repayment process. When this repayment plan is complete, any remaining medical debt is discharged.
You May Qualify for Discounted Medical Care or Charity Care
Nonprofit hospitals are required, under Federal law, to provide free or discounted healthcare to low income patients. These hospitals are obligated to do so in order to continue receiving their tax-exempt status. However, hospitals all over California frequently target these very patients with aggressive debt collection practices, unlawfully. Furthermore, California law requires all hospitals, including for profit hospitals, to extend financial aid eligibility for charity care. Still, patients who should receive these benefits are routinely overcharged, then harassed by collections agencies to pay up. If this has happened to you, an attorney can help set things straight.
Call a Sherman Oaks Medical Debt Attorney Today
Everyone deserves excellent medical care, regardless of their financial status. Unfortunately, our healthcare system is lacking in this regard, and millions of Americans end up being shackled with outrageous medical bills that they will never be able to pay off. If you are underwater because of medical debt, the Sherman Oaks medical debt attorneys at Wadhwani & Shanfeld can help. Contact us today at 899-996-9932 to schedule a free consultation.
