There is nothing more upsetting than dealing with an illness or medical condition that requires immediate medical treatment. Unfortunately, the stress continues long after seeking treatment due to costly medical bills. If you are struggling with medical debt, Laura D. Frye, Ltd. understands how overwhelming it can be for you and your family. She will help you find a debt relief solution so you get out from medical debt.
Laura D. Frye, LTD. will work with you to find the best debt relief solution available to you. She may find that you are eligible for filing for bankruptcy, which may discharge your medical debts. She can recommend whether filing for Chapter 7 or Chapter 13 would be best for you and guide you through the filing process.
Can Medical Debt Be Forgiven?
Medical debt does not simply go away completely after 7 years. Under the Fair Credit Reporting Act, most accounts that go to collections only stay on your credit report for 7 years, After 7 years, they no longer affect your credit score. Medical debt will be removed from your credit report after 7 years, so it will not be held against you if you apply for a loan, mortgage, & etc, however, you are still legally responsible for paying them.
It is important to understand that you are not alone if you have incurred massive amounts of medical debt. While filing for bankruptcy may be the most practical course of action, Laura D. Frye, LTD. will discuss your options. Contact her today to schedule your appointment.
Incoming Medical Debts – What To Do Next?
If you know that you may be incurring new medical debt in the near future, it would be a good idea to delay the bankruptcy process. Since the court can only discharge debts that are included in your bankruptcy petition, you could be stuck with a large amount of non-dischargeable debt if you were unable to list these expenses at the time of your filing. You would be prohibited from seeking a 2nd discharge of debt for a certain period of time, which could be as long as 2 to 8 years after your initial filing.
Laura D. Frye, LTD would recommend that you would incur all medical debts before submitting your petition with the court. The idea of waiting may seem unnerving, especially if you are currently facing a bad financial situation. However, in the end this will be a big advantage to help finalize your medical debt for good.
Medical Debt Bankruptcy Help in Chandler, AZ.
Explore your options regarding medical debt with the help of Laura D. Frye, LTD. She is here to give you a better idea of what you can expect down the road. With her help, you may free yourself from medical debt so you can enjoy financial stability once again. Schedule your free consultation today!