Cherry Hill Medical Debt Management Lawyer
Skilled Camden County Bankruptcy Negotiation Lawyer Helps Clients Erase Overwhelming Medical Debt through Chapter 7 and Chapter 13
No one plans for an accident or an illness. Rest assured, however, when you are faced with a medical problem, the bills will start piling up faster than you can open them. Compounding that, it’s likely that the health condition has also had an effect on the amount of income being brought into the home. Plus, you are worried about the person who is ill, whether it’s you or a loved one.
More stress, mounting bills and less money to pay for them – not a great combination. The result is often crippling medical debt. And, doctors and hospitals like to get paid.
If you are facing significant medical debt, there are ways to manage your financial situation. Filing for personal bankruptcy protection is certainly one of them. There are also several alternatives to bankruptcy including debt negotiation and debt settlement. Contact an experienced debt lawyer who will review your financial situation and guide you toward a solution that works best for your family.
Knowledgeable New Jersey Bankruptcy Lawyer Can Help You Discharge Medical Debt
Before filing for bankruptcy to erase medical debt, however, Mr. Spivack may decide to contact your medical insurance company if it denied benefits. That may be an effective solution that will keep you out of bankruptcy. Debt negotiation is another option; the healthcare providers may be willing to accept less and write off the rest of the debt. Something, as they say, is more than nothing.
However, if after reviewing your circumstances, Mr. Spivack suggests bankruptcy, he will explain the following in detail. When you file for bankruptcy, your debts will be divided into three categories: secured debt, unsecured debt and priority claims. Priority claims can usually not be discharged through bankruptcy. This type of debt includes student loans and back child support.
However secured debt (such as a mortgage) and unsecured debt (such as a credit card or medical bills) can be eliminated through personal bankruptcy. These debts are managed differently based on whether you file for Chapter 7 or Chapter 13 bankruptcy protection.
The good news for people drowning in medical debt is that unsecured debts are easy to discharge by filing bankruptcy. If you qualify for Chapter 7, there is no limit to the amount of medical debt you can get rid of – but you must pass a means test that determines qualifications for this type of bankruptcy.
On the other hand, in a Chapter 13 petition, all of your unsecured debts are grouped together. You will have to agree to a repayment plan that is based on your income and expenses. On the positive side, you will be able to negotiate a reduced debt load and have a longer term to pay back the medical debt and other unsecured lines of credit.
Contact Joel Spivack for a Free Consultation about Your Finances and Medical Debt
Not sure you want to file for bankruptcy? That’s ok. Not every situation involving medical debt requires bankruptcy. There are alternatives to bankruptcy and Joel Spivack can explain them to you. He has been helping clients in South Jersey manage their overwhelming debt and crippling medical bills for over 25 years. Put his experience to work for your family by calling today and requesting your free consultation with Mr. Spivack.
The Law Office of Joel R. Spivack is open weekdays from 8 a.m. to 5 p.m. and offers free parking. Mr. Spivack is also available for free consultations outside regular business hours when necessary. Clients are offered payment plans and flexible fee arrangements. Contact our Cherry Hill, New Jersey office today to learn more about your options. Stop struggling with medical debt; Mr. Spivack will put your family first.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.