Discharge Medical Bills with Bankruptcy
People are often confused about the dischargeability of medical bills in bankruptcy. Many people who are contemplating their need to file for debt relief mistakenly assume...
Continue readingPeople are often confused about the dischargeability of medical bills in bankruptcy. Many people who are contemplating their need to file for debt relief mistakenly assume...
Continue readingPotential bankruptcy clients often ask about the types of debt that can be discharged in bankruptcy. For example, some people have the mistaken belief that only credit card debt, or personal loans, or medical bills, or taxes can be put in the bankruptcy. In fact, when filing bankruptcy the attorney should include every single debt of every type, because that’s what the law requires. And, lucky for the client, bankruptcy wipes out every kind of debt, except debts the debtor obtained by fraud or dishonest conduct. Credit Card Debt is Wiped Out in Bankruptcy Credit card debt, including department store cards, is...
Continue readingA new study released Wednesday, June 22nd found that Americans are saddled with ballooning credit card debt and are likely to end 2016 with a record high $1 trillion in outstanding balances. That will be the highest amount of credit card debt on record, surpassing even the years during and before the Great Recession. The record high was in 2008, when people owed $984.2 billion on their credit cards. So after a couple of years in which consumers were being more frugal and working on paying off credit card balances, they have used cards at an ever-increasing rate. Importantly, people have...
Continue readingIn my 24 years of helping clients in Santa Rosa, California, and throughout Sonoma County, get a fresh financial start I have been reassuring clients, and telling them what a new study by the Federal Reserve Bank of New York has now concluded; people who file bankruptcy do better financially in the long run, than those who don't. Today the biggest financial calamity looming ahead of 50% of people is not their immediate debt, but the inability to save for even a modest retirement. Money spent on monthly payments for credit card debt, personal loans and revolving debt pays the interest...
Continue readingSeveral studies have recently shown that women in the United States are uniquely affected by medical debt and carry around more medical debt then men. Unfortunately, these expenses lead to high medical bills and many out of pocket costs, placing a unique burden on the female population. Statistics The Commonwealth Fund looked further into women's medical debt and found that 18.7 million women in the U.S. did not have insurance in 2010 and another 16.7 million were underinsured. These numbers have been increasing since 2000. Further, 26 percent of U.S. women having difficulty paying their medical bills and medical debt is connected...
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