Credit Card & Medical Debt
If you lost your job and had to run up your credit cards to survive, or if you were very sick or injured and spent a lot of time in the hospital and at doctor's offices, you may have a lot of unsecured debt you are being pressured to pay back.
Credit card debt and outstanding medical bills are both considered unsecured debt, meaning you have not put up any collateral against them so if you don't pay them, all that will happen is you will accrue interest on the payments and the creditors will try to demand their money. As a last resort, they can sue you, but only for the amount you owe.
Because bankruptcy wipes out unsecured debt, filing is a good way to get rid of increasing credit card debt and medical bills. We can help you determine which form of bankruptcy is most suitable for your situation and make a plan for how to carry out relieving you of this constant financial strain. We take every aspect of your life into consideration to customize the best solution for you.
Filing for Chapter 7 bankruptcy will wipe this debt out entirely. The process takes about three to six months. If you need a fast, simple way to get rid of your unsecured debt, this may be the way to go.
If you are not eligible for Chapter 7 because you make too much money or you have too many assets, you may be able to file for Chapter 13 bankruptcy. Our lawyer, Thomas C. Rollins, will put together a payment plan for you, which will go to pay back your creditors over a three- to five-year period. At the end of that time, whatever unsecured debt is remaining will be discharged.