Having a medical emergency can be taxing on you both physically and monetarily. This is because medical-related expenses are often extremely high. Many people go into debt because of medical bills. Here at Rothschild & Ausbrooks, we understand that you would like relief from medical debt without having to forsake your health.
Medical debt is considered an unsecured debt, which means that it is not related to property. For example, a house would be in a separate debt category than medical expenses when looking at your costs and income from a bankruptcy standpoint. However, that does not mean that you cannot discharge your medical debt. A means test is used to determine if your debt can be discharged. This test will add up your expenses, income and all monetary aspects of your life in order to show whether or not you are capable of paying off your medical bills.
Emergency room visits aren’t the only medical thing that can put you into debt. Health care is often so expensive that staying in the hospital overnight can cost a person a large sum of money. Additionally, medicine or continued therapy can also cost a huge amount, especially over a long period of time. Surgeries and other medical treatments are also pricy, especially if they are not covered by insurance. You may prioritize your health anyway even at the risk of falling into debt.
You should not be punished for wanting to stay healthy. If you are suffering from medical debt and would like to find relief through bankruptcy, please follow the link. It will take you to our web page which contains more information about bankruptcy and absolving debts.