When it comes to seeking medical treatment, you don't want to think about the potential bills. Getting back to optimal health is your primary concern. After you are out of the hospital and on the road to recovery, medical debt could be right around the corner.
Unpaid medical bills remain the top reason for bankruptcy filings, adding stress on already burdened families. But there is hope! While the idea of filing for bankruptcy can be daunting, it can discharge medical debt while helping you achieve overall financial peace.
If you are struggling with medical debt, you are not alone. Sixty percent of Americans have been in debt due to medical bills. With the rising costs of medical treatments, some Americans are drowning in debt. Bankruptcy can help.
Erasing Medical Debt
Before your medical bills go to the collection agency, it’s important to try to negotiate with the hospital or doctor. Many medical providers prefer to work with you rather than send your account to collection.. Not only does this hurt the patient-doctor relationship, but collection costs are also expensive.
If your financial situation is dire, you can ask for a payment plan or reach out to a non-profit for help. Sometimes, your particular medical provider might have a solution to eliminating or reducing the hefty bills.
In some cases, people need bankruptcy to clear medical expenses, especially if there are other debts piling up. Remember, there is no such thing as "medical bankruptcy." Instead, you have to file for personal bankruptcy, listing your debts, including medical bills.
Debts are deemed as priority or non-priority. Priority debts go to the front of the line. Medical accounts, credit cards, and utility bills take less precedence than priority debt. For those struggling to pay their debts, bankruptcy discharges medical bills and other expenses.
Under Chapter 7, you could discharge most of your medical debt. With Chapter 13, medical bills may require a partial payment on a plan, or you could pay nothing at all. That’s where Woodall & Woodall can help. Our experienced attorneys will evaluate your situation and help choose the best type of bankruptcy for you.
Avoiding Medical Debt in the Future
Unfortunately, medical emergencies are unavoidable. Planning ahead is the best way to avoid future medical debt. Look at your insurance plan. Some providers offer health care savings accounts for medical care. You can use the money in those accounts for a variety of treatments.
If you prefer an in-network pharmacist or doctor, you may receive a discount for your treatment. Many medical providers even offer payment plans as an option for their patients.
You may also explore ways to refinance your medical debt. If you feel as though you have exhausted all of your alternatives, contact Woodall & Woodall and let us help you find freedom from debt.
We Will Work With You To Eliminate Your Medical Debt
Medical debts are a huge burden for many South Georgia families. These debts often spell financial disaster. But there’s no need to worry. There is a way to reduce some of the stress hanging over you.
Woodall & Woodall is here to help. For a free consultation with our team, please call our office at 229-247-1211 or contact us online. Let us help you find financial peace.