I was severely injured in a car accident a few years ago, and I still owe a huge amount for my medical expenses. Is it possible to file for bankruptcy for just my medical debt?
Depending on your situation, you may be able to file for bankruptcy largely because of your large medical debt, but filing for bankruptcy will also take into account any other debts you owe. When you file for bankruptcy in Virginia, the court will consider all your debts and attempt to treat all of your creditors fairly. For example, your medical bills, personal loans, and credit card debt would all be included in your bankruptcy filing. In other words, you can’t pick and choose which of your creditors gets paid when you file for bankruptcy.
However, this shouldn’t stop you from considering bankruptcy as an option when you are struggling with medical debt. In fact, the debt incurred from medical expenses after an illness or injury is one of the top reasons people end up bankrupt. Filing for bankruptcy, looking at your debt burden as a whole, and negotiating toward a better financial future may end up being the best options for managing the addition of a large medical debt.
Overwhelming medical debt is a serious problem for many families, but there are options available to help you get back on your feet. If you are struggling to pay off medical debt in Virginia and need help, schedule a free and confidential meeting with an experienced Falls Church bankruptcy attorney at the Strong Law Firm. We would be happy to learn more about your situation and answer your questions so that you can make the best choices for yourself and your family. Just give us a call today at 703-350-4241, or fill out our confidential online contact form for more information.