{"id":6049,"date":"2022-07-04T09:36:44","date_gmt":"2022-07-04T09:36:44","guid":{"rendered":"https:\/\/recoverylawgroup.com\/?p=6049"},"modified":"2025-08-08T06:04:47","modified_gmt":"2025-08-08T06:04:47","slug":"medical-bankruptcy-and-its-steps","status":"publish","type":"post","link":"https:\/\/recoverylawgroup.com\/staging_D\/medical-bankruptcy-and-its-steps\/","title":{"rendered":"Medical Bankruptcy And Its Steps"},"content":{"rendered":"

Call: <\/strong>888-297-6203<\/strong><\/a><\/p>\n

Medical expenses or unpaid dues can be one of the most uncontrollable reasons to file for bankruptcy. It is unfortunate and very harsh to have to file a medical bankruptcy. If bankruptcy is due to financial mismanagement, it is something that can be fixed as it is something which controllable and something that is due to a mistake. However, medical bankruptcy isn\u2019t the same thing. It for sure makes bankruptcy a good thing and helps an individual suffering from financial and health trauma-free. Know more about bankruptcy at https:\/\/www.recoverylawgroup.com\/bankruptcy\/.<\/p>\n

Bankruptcy framework<\/strong><\/p>\n

Not often cause of bankruptcy is highlighted and hence it is extremely difficult to identify the right reason for bankruptcy as per stats. It can\u2019t be denied that a good percentage of bankruptcies filed in the US today as well indicate the high cost of medical expenses. In most scenarios, the medical, doctor, and other expenses run to several thousands of dollars. This is not only the cause of concern for people who are not protected by a medical insurance but also for people with medical insurance as well. Sometimes, the coverage provided by the medical insurance company isn\u2019t enough, or there is a delay in processing, or it could be out-of-pocket expenses that have eventually created new debt.<\/p>\n

Also, many poor people can\u2019t afford medical insurance as it can be too costly. Due to various aspects, the premium could be as high as $20k per family in many situations, which is certainly beyond affordability for many families. As per many researchers, over 60% of bankruptcy cases were accounted for the medical reasons. And as per the debt discharge numbers, billions of dollars of medical debts get discharged almost every year in the United States. Unlike education loans, child security, alimony, and other payments, it is extremely satisfying to have medical expenses under the dischargeable debt category in both chapter 7 and chapter 13 bankruptcy.<\/p>\n

When not to consider bankruptcy to discharge medical debts-<\/strong><\/p>\n