Chicago Bankruptcy Lawyer

Medical Bills / Medical Debt

Medical bills can add up rapidly. Particularly when a hospital stay and/or surgery are involved, it is all too easy for medical bills to rise into the tens of thousands of dollars. Even smaller amounts of medical debt - less than $1,000 or less than $5,000 - may present an insurmountable obstacle for a debtor.

If you are faced with medical bills that you have no hope of paying, bankruptcy may be an option to consider. A Chicago bankruptcy lawyer at our law firm can talk to you about your options in filing, what chapter may work for you and exactly how this may affect you in order to assist you in making the right decision for your unique financial situation.

Bankruptcy can effectively eliminate all of your medical bills, whether you file a Chapter 7 or Chapter 13 case. You may be able to discharge medical debt through bankruptcy; depending on your income level and the amount of "disposable income" you have, you may qualify for liquidation under Chapter 7 or may need to choose reorganization under Chapter 13. With an attorney to protect your interests in either type of filing, you can rest assured that your property and assets will be granted the full protection they are owed under state and federal bankruptcy laws.

Eliminating Medical Bills in Chicago

Although some people associate bankruptcy with irresponsibility or carelessness in racking up credit card debt, medical bills are a frequent reason for bankruptcy filings throughout the U.S. According to statistics from 2003 and 2004, approximately 50% of filings were the result of medical debt accumulated by debtors who had health insurance.

Find out more about how you can eliminate medical bills through bankruptcy. Contact a Chicago bankruptcy attorney at the Law Office of Marc Wagman today for a confidential review of your financial situation.