NJ Bankruptcy Law Firms

66 East Main Street, 3rd Floor
Little Falls, NJ 07424
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Medical Debt Help – Bankruptcy

New Jersey Bankruptcy Lawyer!

With 30+ Years of Proven results!
"I personally meet with You and represent You!"
"I have never Lost a Chapter 7 Bankruptcy Case"
"Experience = Results"
About Ralph A. Ferro Bankruptcy Lawyer

Medical Debt Help – Bankruptcy

Medical Debt Help Bankruptcy

Written and Verified by Ralph A. Ferro, Jr., Esq.

Medical Debts Affect Bankruptcy

  • Medical Debts are continually rising.
  • Co-pays are now high.
  • Limited Coverage
  • Procedures are not covered
  • No medical coverage.
  • Costs of medical coverage.
  • Poor medical coverage.

Medical Debts are continually rising.

Medical Co-Pays are High

Limited Coverage

Basic insurance coverage that is capped at specific amounts for specific services.    Costs of insurance force individuals/families into these Plans

Medical Procedures – Not Covered

Plans decide on what is medically necessary.   Plans can determine if they will cover a procedure even if Doctors state it is necessary for treating patients.

No Medical Coverage

9.2% of Americans are just not covered by insurance


Costs of Medical Insurance

Average Cost in the U.S. is:   $8,435 for Single Coverage and $23,968 for a family per year.  Now medical coverage significantly cuts into your income.

Poor or insufficient medical plans

The 4 “metal” categories: There are 4 categories of health insurance plans: Bronze, Silver, Gold, and Platinum. Your “metal” category many times is insufficient for your needs but all you can afford.

Medical Debts

Are a Contributing Factor

to Bankruptcy.

  • Medical bills are often what push people into personal bankruptcy, despite rarely figuring as a family’s largest debt. 
  • You cannot file for bankruptcy and include only medical debt – even if you are only drowning in medical debt.
  • Chapter 7 eliminates your Medical Debt
  • Chapter 13  eliminates or reduces your medical debt.

When we recover from a medical problem, we view it as a success.   You should consider filing bankruptcy recovering from a financial problem.   A recovery through bankruptcy is a success, too.

Financial Recovery Through Bankruptcy is a Success.

Chapter 7 Bankruptcy Success

There is no longer a stigma about filing for bankruptcy.     We view it as a success when we recover from a medical problem.   You should consider filing for bankruptcy to be recovering from a financial problem.   A recovery through bankruptcy is a success, too.

Bankruptcy =  Success ————————-is True.   

You are getting back on track. Filing bankruptcy does not mean you failed. It is important to know that the stigma associated with filing for bankruptcy in the past is not the same today. A fresh start with bankruptcy is a success.

In the past, individuals with good credit could assume, and rightfully so, that they could always qualify financially to obtain a mortgage or to refinance. Today, that same individual may have difficulties increasing their credit card limits. In the world of layoffs and downsizing, people are finding it difficult to earn the same amount of money they were earning five years ago. There seems to be no light at the end of the debt tunnel.

When individuals/families can’t find a way to pay their monthly mortgage payments, and there is an illness or life-changing event in their lives? Their situation worsens.  They continue to try to use their credit cards to pay “normal” expenses.  The situation spirals until it is out of control. These are hardworking families who are struggling with their financial burden.

Medical Debt Help in Bankruptcy –

Get Back on Track Sooner Rather than Later

Unfortunately, with the embarrassment that individuals feel, they wait too long to come to a bankruptcy lawyer. There is no embarrassment or shame in bankruptcy; instead, it is a way to face their current financial situation and make a fresh start and a positive step to resolving their money problems. In addition, considering bankruptcy is a positive move to chart a new path and protect their future.

When someone realizes that:

      • things are just not getting better,
      • creditor calls are increasing,
      • credit lines are at the limit,
      • their home could be in foreclosure

Look for advice from an experienced bankruptcy attorney and a Board Certified Bankruptcy Attorney.    Set up a free bankruptcy consult.   I am here to provide you with your path to future financial success.  Bankruptcy = Success not Failure.

In summary, no one should be embarrassed to file bankruptcy, but when you decide to determine if bankruptcy is right for you, set up an appointment with an attorney specializing in bankruptcy filings. Bankruptcy should be viewed as a fresh start for the future rather than a failure.    Sometimes, not filing for bankruptcy protection is a failure.

There is nothing embarrassing about recovering from an illness, and there should be nothing embarrassing about filing bankruptcy to regain financial stability.  

Contact Us for a free bankruptcy consultation,  I will review your medical debts for bankruptcy and your other debts, to determine how I can help you.

I want to meet with you to help you get out of Debt and make a quick recovery.   

Please see my client reviews