Whenever you have to get any type of medical treatment, you should not worry aboutmedical bills.Your Health should always be your first priority as you can always repay the debt after getting healthy.However, in some cases, you might not be able to re-pay your huge medical bills even after getting healthy. This can lead you into a difficult financial situation.
If you are finding it hard to repay the medical debt, you might be considering filing for bankruptcy. But can you really discharge medical debt in bankruptcy? Well, let’s find out.
Medical Bill is Dischargeable
If you are looking to file bankruptcy to discharge medical bill, keep in mind that there is no specific type of bankruptcy which only focuses on your medical debt. Rather, you will have to file for a common bankruptcy which will include your medical debt as well.
In fact, medical debt is considered as non-priority debt, and can be easily discharged. This is in contrast to priority debt, like taxes and child support which cannot be discharged. You can click here to know more about this.
However, you should also keep in mind that discharging your medical debt and other debt through the bankruptcy process will have long lasting effects on your credit score. Moreover, depending on the Type of bankruptcy you choose, you might or might not lose some of your assets.
So, if you are looking to file bankruptcy to get rid of debt including medical bills, you must consult an expert bankruptcy lawyer before hand. You should also prepare yourself to face all the challenges bankruptcy can bring for you.
Explore The Alternatives
While declaring bankruptcy is one way of getting rid of your medical debt, you can also explore the alternatives.
For example, try negotiating with your creditor and see if they can provide you with a discount on your medical debt.