Because of how high medical costs can be, a medical emergency can quickly result in a serious financial situation. Doctor visits, surgeries, prescriptions, and other medical treatment are expensive, and your insurance may not cover enough of your costs. You may also have to take time away from work. If you can’t afford your medical bills, you will be left with medical debt.
You could be financially devastated by an unexpected illness or injury. Bankruptcy laws in Nevada provide protection to people in these circumstances, as well as several other debt situations. A Chapter 7 or Chapter 13 bankruptcy could erase your medical debt, as well as many other debts you may have.
Filing bankruptcy to eliminate medical debt isn’t a decision that should be taken lightly. However, medical emergencies are rarely a choice, and your debts could be incurred involuntarily. The number one cause of Reno is medical bankruptcy. Whether you seek to file Chapter 7 or Chapter 13, bankruptcy could be an effective solution to your medical debt problem.
Circumstances outside your control can create financial hardship. Dealing with a medical emergency, as well as the debt it creates, can quickly become overwhelming. The costs of medical treatments and prescriptions only continues to rise, and insurance co-pays may only partially cover your costs. Depending on the type of medical condition, you may owe significant amounts to more than one medical provider.
A medical situation can create debt, whether the affected individual has health insurance coverage. The fortunate part is that these debts are typically considered “unsecured.” This makes them totally dischargeable in both Chapter 7 and Chapter 13 bankruptcy.