Debt

Filing Bankruptcy Due to Overwhelming Health Care Debt? Protect Your Future

Once you have decided to file bankruptcy to relieve overwhelming medical debt, you must consider how to best protect yourself in the future. Unless you take measures to prevent this debt from reoccurring, you can once again find yourself in medical debt without the benefit of filing for another bankruptcy. Protecting yourself from future medical debt should be one of your first concerns while filing for chapter 7 or chapter 13 bankruptcy. Individuals who have gone through bankruptcy due to devastating medical expenses have learned the hard way that their medical insurance was inadequate, and failed to completely protect them from financial disaster. Most individuals are insured through an employer-provided health care plan. These plans usually cover only a small percentage of the costs incurred after a catastrophic illness or emergency. Some individuals purchase their own health care plans. These individuals are usually self-employed. Individualized health care coverage is very … Read More