Medical debt can be crippling because your illness will likely make it difficult for you to work to pay back these debts. Additionally, the stress of debt accumulation can prevent you from being able to recover from your illness fully.

It is important to prioritize your health over everything else. This means that you should try not to let the burden of your debts affect your mental state. Being proactive when possible to address your debts could help you to feel less strained by the medical debts that you have accumulated.

Bankruptcy should not be your first choice

If you only have medical debts, and you are not struggling with additional credit card debts or mortgage obligations, filing for bankruptcy may not be the most obvious choice. This is because it may be possible to negotiate with your medical provider by letting them know that you cannot repay the full extent of your debts. You may be able to put a repayment plan in place or agree to pay a lower amount.

When is bankruptcy a good option?

If medical debts have led to the accumulation of other debts, and you are struggling with a very limited income, filing for Chapter 7 bankruptcy may be a sensible choice. Chapter 7 bankruptcy will liquidate most of your assets to pay off your debts, but it will also write off the debts that you are unable to pay.

Medical debts should never cause undue suffering and stress. There are many options for those who feel they are unable to pay back their medical bills; therefore, it is important to understand the law.