The U.S. and global economies constantly fluctuate, because what goes up must come down, and vice versa. The reasons for recessions vary, but the results are the same in that people suffer regardless of the causes.The Great Recession a decade ago, which caused over eight million people to lose their jobs, resulted in a huge […]
Medical Bills
Common Reasons People File for Bankruptcy
Uninsured medical bills resulting in lawsuits and threats of legal action or garnishment are common reasons for bankruptcy these days. Divorce is also a reason for many bankruptcies—a high percentage of the people who file for bankruptcy protection are single mothers. In a Chapter 13 bankruptcy, a conduit case refers to making mortgage payments through […]
Means Test Helps Determine Filing For Chapter 7 or Chapter 13 Bankruptcy
The bankruptcy means test was established by congress as a standard method of calculating the disposable monthly income of a debtor, to help determine the amount paid to the trustee of a Chapter 13 bankruptcy plan. We recently discussed several aspects of bankruptcy with Christopher Holmes and Jess M. Smith, III, partners at Tom Scott […]
Bankruptcy Strategy for Client with Chronic Medical Condition and No Health Insurance
A remedy is available for a man without medical insurance who has a serious medical condition that prevents him working. Many people with medical conditions seek debt relief through a Chapter 13 bankruptcy plan, with the option of converting that to a Chapter 7 bankruptcy later, if medical bills become overwhelming while the plan is […]
Can I discharge medical bills?
Yes, just like credit cards, the successful completion of a bankruptcy will discharge medical bills. A very high percentage of our clients feel overwhelmed by medical bill collectors and need relief offered by bankruptcy to stop the collection and get rid of that debt. Related articles: Creditors