Wyoming Medical Debt Lawyers

Medical debt can accumulate quickly. In some cases, all it takes is one costly procedure or a trip to the emergency room for a person to instantly plunge into deep debt. Though this can be extremely overwhelming and frightening, there is a way out. The skilled Wyoming bankruptcy lawyers here at 307 Bankruptcy have extensive experience representing clients facing significant medical debt, and we stand ready to put that experience to work for you. Contact us for a free consultation today.

Medical Debt Statistics in the United States

Medical debt is a significant and growing concern across the United States, affecting millions of individuals and families. According to recent studies, over 100 million Americans carry some form of medical debt, with a large portion of that debt stemming from unexpected emergencies or chronic illnesses. Alarmingly, approximately 58% of all debt collections reported on consumer credit records are related to medical expenses. For many, this financial burden becomes unmanageable, leading to severe stress and tough decisions about their future.

In fact, medical debt is one of the leading reasons individuals consider filing for bankruptcy. Studies have found that as many as 60% of bankruptcy filings include significant medical debt as a primary factor. The problem is particularly acute in states like Wyoming, where access to affordable healthcare can sometimes be limited, leaving individuals with few options when faced with overwhelming bills. These statistics underscore the critical importance of legal avenues like bankruptcy to provide relief and a fresh financial start for those struggling under the weight of medical debt.

Is Medical Debt Considered Dischargeable in Bankruptcy?

Yes, medical debt is considered dischargeable in bankruptcy, offering a vital lifeline to those drowning in unpaid medical bills. When you file for Chapter 7 bankruptcy, your medical debts are classified as unsecured debts, meaning they are not tied to any specific property or collateral. This classification makes them eligible for discharge, which effectively eliminates your obligation to pay those debts.

For those who pursue Chapter 13 bankruptcy, medical debt is addressed differently. In this type of bankruptcy, you will create a repayment plan to pay off a portion of your debts over three to five years. At the end of the repayment period, any remaining unsecured debt, including medical bills, is typically discharged.

Importantly, there is no cap or limit on the amount of medical debt that can be included in a bankruptcy filing. Whether your medical expenses are from a single major procedure or years of accumulated bills, bankruptcy can help provide the relief you need. However, the process can be complex, and having an experienced Wyoming bankruptcy lawyer by your side is essential to ensuring your case is handled effectively and that your rights are protected every step of the way.

Contact Our Gillette Bankruptcy Lawyers

Don’t face astronomical medical debt on your own. You have options, and our medical debt lawyers are here to help you explore them. Contact 307 Bankruptcy for a free initial consultation today so we can assess the circumstances of your case, and, from there, work to craft a comprehensive strategy on your behalf.