What You Should Know About Medical Debt In Your Bankruptcy Case
Medical debt is a significant problem in Florida and across the country, and it can affect consumers of all ages. When you are struggling with medical debt, you may be thinking about filing for personal bankruptcy. Whenever you are considering bankruptcy, it is important to seek advice from a bankruptcy lawyer in West Palm Beach who can advise you about the specifics of your case. You may be eligible to have your medical debt discharged and to get a fresh start. In the meantime, the following information can help you to understand just how common medical debt is in America and how bankruptcy may be able to benefit you.
Medical Debt is Typically Dischargeable
One of the first things to know about medical debt in relation to consumer bankruptcy is that medical debt is usually dischargeable. Under the U.S. Bankruptcy Code, there are certain types of debts that are nondischargeable, which means that they cannot be discharged in a bankruptcy case. Medical debt rarely falls into this category, and individuals who are dealing with medical debt are typically able to have it wiped out in their bankruptcy case. You should speak with a bankruptcy lawyer who can assess the particular details of your medical debt, but there is a strong likelihood that your medical debt can be discharged if you file for bankruptcy.
Millions of Americans Have Medical Debt
You are not alone in struggling with medical debt. According to a recent analysis from the Kaiser Family Foundation, about 1 out of every 10 Americans currently owes medical debt. That figure comes out to about 23 million Americans with medical debt, and approximately 11 million of those individuals owe more than $2,000. The data from the Kaiser Family Foundation shows that about 3 million Americans currently owe more than $10,000 in medical debt.
The analysis also showed that medical debt is reported most often by Americans between the ages of 35 and 64, and Black adults have a higher percentage of medical debt than other Americans. Further, the analysis showed that people who did not have insurance for the full year were more likely to have medical debt than those who had insurance throughout the year.
Bankruptcy Can Help with Your Medical Debt
Given that medical debt is usually dischargeable in a bankruptcy case, you should know that bankruptcy can typically help with your medical debt. If your medical bills are the primary source of your debt, or at least a significant source of your debt, you should get advice from a bankruptcy attorney about filing for Chapter 7 or Chapter 13 bankruptcy in Florida.
Contact a West Palm Beach Bankruptcy Attorney
So many Americans are struggling with medical debt, and many Americans are ultimately able to get relief from that medical debt by filing for personal bankruptcy. If you are struggling with debt and you owe a significant amount of money for medical bills, you should contact one of the West Palm Beach personal bankruptcy lawyers at Kelley, Fulton, Kaplan & Eller today to find out more about how bankruptcy could be a solution for you.