QUESTION
If I just got hit with a 20,000 invoice for medical costs, can this be wiped out along with my 12,000 in credit card debt?
Asked on Aug 06th, 2017 on Bankruptcy - Michigan
7 ANSWERS
Commercial & Bankruptcy Law Attorney serving Powell, OH
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Ronald K. Nims
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A Chapter 7 bankruptcy will eliminate both the credit card debt and the medical bills.
Answered on Aug 07th, 2017 at 8:49 PM
Medical debts are a common reason why someone filed bankruptcy. These debts can be eliminated in a Chapter 7 bankruptcy provided you otherwise qualify.
Answered on Aug 07th, 2017 at 8:49 PM
More than likely yes. There are some factors to weigh with regard to your credit card debt - how long ago obtained and for what? Whether or not you qualify for a chapter 7 liquidation or a chapter 13 consolidation depends upon your disposable income. But, yes, most likely.
Answered on Aug 06th, 2017 at 8:37 PM
Assuming you qualify as to income and have no assets that cannot be exempted from the case, then yes, these can be erased.
Answered on Aug 06th, 2017 at 8:37 PM
Medical debt and credit card debt can be discharged in bankruptcy. Whether they can be "wiped out" completely depends on whether you file for chapter 7 or chapter 13, and that depends on a whole host of factors specific to your financial situation. Consult with an experienced bankruptcy attorney to understand your options.
Answered on Aug 06th, 2017 at 8:36 PM
Bankruptcy Attorney serving Alpena, MI
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Carl C. Silver Attorney at Law
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Absolutely. Why not?
Answered on Aug 06th, 2017 at 8:36 PM