Medical expenses are the leading cause of debt in our country. Due to COVID-19, medical debt is growing faster and bigger. As of 2022, one in every three U.S. adults has medical debt. For many of these folks, medical bills are a larger source of debt than credit cards, utilities, and car loans combined.
Bankruptcy For Medical Debt
Medical debt has long been a top factor in bankruptcy filings. Over the years, Debt Advisors has published several articles related to the topic of medical bills and how to eliminate that debt. Although it has been a number of years since the interview, hear what attorney Michael Georg has to say about medical bills when interviewed by WDJT-Milwaukee Channel 58. The interview, “Wisconsin family who received a shocking medical bill,” addressed how a simple blood test turned into thousands of dollars in unexpected charges. Then, consider how COVID-19 has further exacerbated this ongoing problem.
COVID-19 Medical Bills
Unfortunately, few insurance companies are waiving out-of-pocket costs related to COVID-19 treatment. Wisconsin public radio recently addressed the rise in medical bills during a COVID-19 related podcast stating, “many Wisconsin hospitals have paused legal action against outstanding medical debt. Pausing legal action is only temporary – it does not erase the debt; nor does it apply to all medical bills. For example, if there are outstanding medical debts that were in existence prior to COVID-19, those unpaid medical debts are likely to be sent to collections. Preventative screenings, emergency room care, or long hospital stays due to cancer or a COVID-19 related illness can all lead to a tremendous amount of debt. Filing bankruptcy is the only way to truly “wipe out” unsecured medical debt left by high cost medical services.
Prevent Negative Impact On Credit
Every healthcare provider has their own set of billing and collections policies. In general terms, we see unpaid medical debt going to collections within 120 days after the bill is past due. If this happens to you, contact Debt Advisors to find out what your options are. There is a period of time before the credit bureaus list the unpaid medical debt on your credit report. If you can resolve unpaid debts in time, they will have less of an impact on credit scores. Don’t wait. Repairing credit will become more difficult as time and debt accumulate. We know that those who have medical debt are likely struggling with more than one serious debt. If you’re concerned about being unable to pay medical bills, or other types of debt, ask for a professional assessment. If your debts are paid quickly enough, you can avoid longer-term implications having to do with poor credit scores.
Help With Medical Debt
Due to the current pandemic, more people may find themselves in an economic crisis. It is not a matter of “if” debt collectors will start pursuing you, but more about “when.” We do not advise ignoring your bills, transferring debt to credit cards, or obtaining a line of credit from home equity. Prevent costly mistakes by getting professional and honest advice. Start with a Free Consultation with a medical bill lawyer at Debt Advisors. If you chose to hire us, get started for as little as $100.
After Hiring Medical Debt Attorney -10 Point Outline
- Trustworthy & sound legal advice before, during & after process
- Verify that your medical bills are legitimate
- Evaluate full extent of debt situation
- Determine if you may qualify for Ch.7 or Ch.13 bankruptcy
- Fully explain your options for informed decision
- File bankruptcy to either reduce total debt & set up a repayment plan (Ch.13) Or, ELIMINATE / DISCHARGE medical debt (Ch.7)
- Arrange for court required credit counseling, hearings, meetings, etc.
- Stop collection agencies using the “automatic stay.” This protection, only available through bankruptcy, can save your home from foreclosure, stop car repossession, end wage garnishments, etc.
- Work courts, bill collectors, banks & bankruptcy trustee
- Sue collections who violate FDCPA protections
Wisconsin Medical Bills Lawyer
We are Debt Advisors; medical debt lawyers who have been serving Wisconsin for more than fifteen years. We understand that long hospital stays, emergency room visits, a serious medical diagnosis or any unexpected high medical bills can lead to a serious financial crisis. In our fifteen years of experience, we have helped thousands of people get out from underneath medical bills and other types of debt. We offer virtual meetings. Read Google Reviews From Clients