Denver, Colorado Medical Bankruptcy Attorneys
I get a lot of calls from people who want to know how they can file, “medical bankruptcy“.
Bankruptcy is the most powerful tool there is to eliminate overwhelming medical debt, but there’s one thing you should know.
You can’t file bankruptcy just to get rid of medical debt. You have to include all of your debts. That includes any credit cards you have “for an emergency” or to “rebuild your credit”. We can get rid of those medical bills, but you’re going to have to rebuild your credit after the bankruptcy process.
So, while you can get rid of medical bills, at the same time you will be discharging other debts, such as credit cards or car loans. Since the bankruptcy laws require you to disclose all of your debts, it is impossible (and illegal) to include only medical bills on your petition.
Filing “medical bankruptcy” is another common misconception that many people who are considering bankruptcy have. Unfortunately, there is no way to soften the impact bankruptcy has on your ability to get credit by classifying it as a “medical bankruptcy.” The good news is that bankruptcy does not permanently mar your credit history, but it will take some time before you’ll be able to get credit at reasonable interest rates. You’ll be surprised at how quickly your credit score will improve if it is currently suffering because of medical debt.
Talk To A Colorado Bankruptcy Lawyer About How To Eliminate Medical Debt
Medical debt is one of the leading reasons my clients file Chapter 7 or Chapter 13 personal bankruptcy. If you are feeling overwhelmed by medical debts, consider scheduling a free, no-obligation consultation with a Denver bankruptcy attorney to see if bankruptcy is your best option.
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