Medical bills seem to grow exponentially, one visit to a doctor is bad enough but when there are additional tests and treatments added to the bill, visits and consults with specialists and then huge prescription charges; well, suddenly you’re drowning in medical debt and it feels like there is no way out.
Filing for bankruptcy is not something that should be taken lightly, whether you’re doing it for medical reasons or other reasons. Bankruptcy is a serious step and while it can be the help you need to start over there are some long-reaching implications. So if you’re facing huge medical debt and ongoing treatment there are other steps you should consider first. Ask for a discount, join non profit groups or turn to ones you already belong to, check with pharmaceutical companies for discounts, ask friends and family.
Only when you’ve exhausted all efforts to make your medical debt manageable should you turn to bankruptcy. And then, you should make sure you visit with a bankruptcy attorney to get the timing right. As mentioned above, filing for bankruptcy too early may leave you with a large amount of bills that occur after the bankruptcy, these will be your responsibility. Bankruptcy only covers bills that you have already incurred, not ones that crop up afterward. An attorney, and a treatment plan from your healthcare provider, can help you determine when to file for medical bankruptcy.